FIDELITY 1st FUNDING
FIDELITY 1ST FUNDING & REALTY

Broker Realtor®

 

Helpful Short Sale Information

Real Estate Short Sale

 

Do you owe more than your home is currently worth and you need to sell your home? If so a real estate short sale may be the service you need.

What is Short Sale?

A real estate short sale is when you owe more than your properties currently value but you need to sell. In a typical situation, your mortgage lenders would require you to come in with the difference in the amount owed. A real estate short sale is where we negotiate with you lenders to accept a pay-off that is less than you currently owe and you do not have to pay the difference.

 What is Required for a Real Estate Short Sale?

In order for us to get a real estate short sale accepted for you, we first must list your home for sale. During the listing period, you will need to provide the following documents to us so that we may package a real estate short sale request to your existing mortgage lenders.

 Documents required for Real Estate Short Sale

 Please gather the following:

 
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Last two years tax returns with W-2's and any tax schedules

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Most recent two months of paystubs

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Most recent two months of bank statements for all your accounts, including retirement accounts, 401k.

bullet

Current mortgage payment coupons for existing mortgages

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Copy of original mortgage note and deed of trust

With these documents we create a package as to why you require a real estate short sale and submit this to the appropriate department at your lender, once we have an accepted purchase offer for your home. 

 

 

 Who can Qualify for a Real Estate Short Sale?

 Typically, the mortgage lenders will only accept a real estate short sale if you are at least one month behind on your mortgage payments, have a ready and willing buyer and you are unable to debt service all of your existing liabilities. Also, if you financial situation has changed and you are currently making less money than before and you have no more savings, you most likely qualify for a real estate short sale. This is the reason why we need to above documents to paint a clear financial picture of your current situation.

 

 

With these documents we create a package as to why you require a real estate short sale and submit this to the appropriate department at your lender, once we have an accepted purchase offer for your home.

 

Short Sales and Properties

 

Short sales may be done on both principal properties and investment properties. We can negotiate short sales for townhomes and condominiums. 
 

Do You need a real estate short sale?

If you owe more than you home is worth you need to sell your home, please contact us regarding our short sale services. Contact us by Email or by phone at: 

 

 manny@fidelityfirstrealty.com            OR          626-915-0800 Office





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