Short Sale Help

IF YOU ARE A SELLER WITH SHORT SALE QUESTIONS, CONTACT

C.A.R.E. Title Inc. and ask for our short sale specialist. (727) 942-7245.

At C.A.R.E. Title we have an experienced real estate attorney on staff, and the necessary experience with short sale negotiations for successful short sales.

WHAT IS A SHORT SALE?

A "SHORT SALE" occurs when the homeowner’s mortgage

company agrees to accept less than the full balance of the loan at closing because the outstanding mortgage balance is greater than the property’s current market value less closing costs and commissions.

HOW DOES A SELLER QUALIFY FOR A SHORT SALE?

1. The seller must have a valid Financial Hardship causing an

inability to pay his mortgage, such as:

Business Failure

Loss of Employment

Damage to Property

Death of a Spouse/Wage Earner

Severe Illness

Excessive Medical Bills

Divorce/Separation

Relocation

Military Service

Mortgage Payment Increase

Insurance or Tax Increase

Too Much Debt

Incarceration

The seller will have to explain this hardship to the lender with a "hardship letter", and financial documentation.

2. The seller must be able to show Financial Insolvency.

Financial Insolvency means that the seller's liabilities exceed the seller's assets, that the seller does not have the liquid cash or assets that could be used to buy down his mortgage. If the short sale client has liquid cash or assets the seller will be expected to use them to pay down his mortgage.

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RE/MAX New Dimensions - Each Office Independently Owned and Operated © 2012 Homes Media Solutions (a Dominion Enterprises Company) All Rights Reserved.

RE/MAX New Dimensions - Each Office Independently Owned and Operated
© 2012 Homes Media Solutions (a Dominion Enterprises Company) All Rights Reserved.