Hi (again),
I had read somewhere that there is a particular short sale packet of forms required for Countrywide that must be submitted in a certin order. If items are missing or if it is not in order, what do they do? Put you at bottom of the pile??
Can anyone please tell me where to obtain this?
And also for HSBC, if they have such a thing.
(AS some may have read, I am having to do alot of double checking on my realtor - and I will have to hire an attorney to cover the closing and perhaps the negotiating with mortgage companies. I want to be sure of facts to present.).
Thank you very much. :biggrin
Anyone? Please? :help
There is no specific ss package or stacking order from Countrywide or HSBC. The basics are as follows:
Borrower’s Financials
1.Client Information
2.Hardship Letter
3.Financial Statement
4.Copies of latest Pay Stubs
5.Copies of latest Bank Statement
6.Copies of 2 latest Tax Returns
7.Authorization & Release Form
Property Information
1.Broker’s Price Opinion
2.Residential listing agreement (and MLS history if needed)
3.Purchase Agreement
4.Net Sheet (Default Evaluation / Equity Analysis)
You should have a loss mitigator already assigned to your loan. The best thing to do is to call them and ask them if you they need anything else. If you haven’t got one assigned, then just keep calling until you get an answer - tell them that you have a buyer and you don’t want to lose them by waiting too long. Now, having said that, the WAIT is the biggest and most common problem with short sales now. Countrywide is totaly inundated and there just may be no way around the delay for now.
An attorney will NOT HELP in this matter. You NEED to go find an experienced short sale broker. The broker will be paid by the lender from proceeds of the sale, so you don’t have to fork out any money up front to a lawyer.
Thank you for the info. I appreciate all your help.
I just paid the HOA fees - because I do not want them to put a lein on the property (probably a bad move, huh?). The check already cleared - so turning back on that one.
SO - in the state of Florida: How can an investor get the 7-9 months it takes to bring to close a short sale with Countrywide when a judicial notice has been served? It stated we had 20 days to respond, and then 30-60 days after that sale date would be set. I was wondering how you are able to delay the sheriff sale so that the short sale can be assigned and possibly brought to close??