what loan agreement letter are you having the potential short sale client sign to get authorization to sumitt a contract to the bank? I have a potential short sale in my area, Home value is $128,000 ,and we wanted to offer 75,000 to the bank. Any help would be appreicated. Thanks!!!
you want me to email you one?
yes, If you don’t mind sending me a copy that would be great. We are just starting this process and any direction would be helpful. My email is listed in my forum profile.
Generally there are only 2 types of letters you would deal with. One would come from your mortgage broker with an approval letter or you have a POF for cash purchase which can either be a line of credit letter from bank, or bank statements showing you have cash funds to close.
You can not go and type your own letter up saying I am approved for financing or have cash to close. Banks want to see proof.