Short sale question

When you call the mortgage company to start the short sale procedure . Should you present yourself as an individual or should you present youself as a company.

Which are you?


If you are an owner of a property and wants to sell this. Your payment has NEVER been late. When a buyer makes an offer to buy it less than what you owe. What’s a reasonable explanation that you would tell the lender? Is it better for the owner to contact the lender first or the buyer? Please advice. I will NOT hold anyone by their opinion. I do NOt want this to affect my credit. How could you persuade the lender to accept the offer as payment in FULL so that it will not affect my credit.

if you are a Realtor representing a client then you need to RQ the lenders authorization form and then have your client sign it and fax it to the lender first before they will talk to you… sometimes it is best to three-way call the lender along with your client on the line…

If it is your personal house; the lender and explain your situation is and ask what the procedure is for a short sale to be reviewed and accepted…(ask what are the usual time frames for each part of the process) have you tried a work-out with the lender to save the house? also know that if you current loan is an FHA loan they normally require your loan to be 3 months delinquent before they will even talk to you about a short sale.

good luck