How Do I Short Sale My Sacramento Area Home? Short Sale Training For Homeowners

FOLSOM Certified Short Sale Specialist and Sacramento area Short Sale Expert Forth Hoyt answers common questions from Sacramento Short Sale candidates; How do I get started in Short Selling My Home? How do I do A Short Sale On my Home?
Short Sale Training 101 For Sacramento Area Homeowners:

What are the steps, what’s the Short Sale Process, the Short Sale Timelines? What is a Short Sale Package? What are the required short sale documents that make up the Short Sale Package? What do the banks consider as a Hardship for a Short Sale? And what can I expect as we get started?
As a Certified Short Sale Specialist and Expert Folsom Area Short Sale Negotiator, I visit with several Folsom and sacramento area homeowners a day who are struggling with mortgage issues, looking for information to help them make a decision as to which option to choose in this troubled economy and housing market.
As we visit is is nearly inevitable that the conversation turns to short sales and how that process works.  There is a lot of confusion and misunderstanding about the Short Sale Process and the Short Sale Transaction.
Find out more about your particular situation; Do you have Folsom shrtsale or Sacramento short sale questions?  Talk to a Short Sale Expert!
Contact us Today At Forth Hoyt’s Sacramento Short Sale Center.
One way I have found to easily describe the short sale is to have the homeowner look at it as two separate transactions.  There is the “Real Estate 101” part of the sale, where we take the short sale listing, which is exactly like any other listing, with a listing agreement, disclosures, etc. that is around 40 pages: The Listing. Agency Disclosure, Transfer Disclosure Statements, Homeowners Association Disclosures, The Buyers and Sellers Advisory’s, Etc.  The only difference between a short sale listing and a regular “Equity Sale” is the Short Sale Addendum, that basically puts all parties on notice that the sale is contingent upon third party approval.  (or bank or servicer short sale approval).
Here is where the second side of the transaction comes in and where you as a homeowner want to be sure you have someone on your side with Extensive Short Sale Training and especially Extensive Short Sale Agent Experience. The second side of the transaction is the transaction between the homeowner and the bank.  or more specifically, the negotiations that go on between the homeowners short sale agent and the note holder, mot times referred to as the “Investor”.  This investor is most of the time Fannie Mae or Freddie Mac Who have recently adopted their own versions of the Obama Administrations Government Short Sale program: HAFA.
What other Government Program do you qualify for? Having a hard time deciding between Short Sale vs. Foreclosure.
New Government Foreclosure Prevention Program Eligibility- Which Programs Do You Qualify For?
A Sacramento Area Certified Short Sale Specialist can help you come to terms with the anxiety, help to formulate a  and plan a winning Short Sale Strategy….
The Short Sale Agents Negotiation with the Bank, Servicers and Investors of one, two and sometimes three lien holders is obviously the most complex and difficult part  of the short sale process.  This is where the constant updating of the short sale documents, the paperwork, documentation, verification, qualification and actual processing and moving the file through systematic (and sometimes frustratingly slow) steps and stages that each lienholder has.
Why is it important to stay out of foreclosure?see  Why Short Sale? and   Short Sale vs. Foreclosure.
The journey an actual short sale file goes through from start to finish can be a long journey; simultaneous negotiations with lien holders and then finally approval letters with different expiration dates that must be re-negotiated.  This journey includes many stops along the way; from data entry, authorization and gathering documents, transmitting information, scanning and imaging, ordering valuation and property condition reports etc.  All the while communication and logging the process in the actual paperwork.  At the servicer level, many of these initial stages and additions  that are added to the file are done by different lower level servicing staff, and then finally there is escalation and assignment to a higher level negotiator who presents the finished product: “the file”, to the investor who may also look at more negotiating before final review and approval.  Again, times this process by two or several times three and you can see why the short sale process can take so long.
A Sacramento Area Certified Short Sale Specialist can explain and help you understand the first few days of the short sale process are the busiest, most important and most critical. That is when the documents must be gathered, but it is nothing more than a twenty minute task most of the time.
In your short sale package we will need:

• Two months banks sttements
• Two months pay stubbs
• Two years tax returns
• Hardship letter
• Financial statement

Easy, right?
There will be several times during the short sale process where the lien holders will require updated short sale documents.
The Short Sale Hardship is becoming less and less important in most of our  our short sale negotiations. If there is a documentable income shortage, that’s all the hardship you need.
Find out more about your particular situation; Talk to a Short Sale Specialist!
Contact us Today At Forth Hoyt’s Sacramento Short Sale Center.
Your Sacramento Area Certified Short Sale Specialist can help you, by understanding exactly what the banks are going to need, jsut how they want it organized and exactly what they want it to say…
By understanding your goals, time lines and your families needs, we will help you create a strategy that fits.