How to short sale your home?

 
A short sale is where the bank accepts less than the full loan balance of the mortgage to minimize their loss on a defaulted loan.  If you are a borrower who is behind on mortgage payments, a short sale can be an excellent way to get some moving money, avoid foreclosure and minimize the damage to your credit.  If you are interested in short selling your home, we have outlined a step-by-step process for doing this:
 
Step 1:  Call your lender and tell them you are interested in short selling your home.  The lender will log this into their system, so it helps somewhat stall the foreclosure process.  You should ask your lender if they offer any compensation for you moving.  Banks have programs where they are incentivizing borrowers to willingly participate in short sales.
 
Step 2:  Get your paperwork together to submit as part of the short sale package.  This includes forms that your lender will require you to fill out, HAFA forms, if you are HAFA eligible, and financial information such as pay stubs and tax returns.  Make copies of all of these for the short sale listing agent.
 
Step 3:  Hire a Houston top short sale agent.  When you are looking for a reputable realty Houston Texas to short sale your home, make sure you follow these simple steps in this article about how do I find a short sale listing agent? 
 
Step 4:  Provide your part of the short sale paperwork, which demonstrates your hardship situation, to the short sale listing agent. 
 
Step 5:  Prepare your house for sale.  Since the house is going to be marketed, you should get it ready for buyers to start coming through.  Your agent will help you with suggestions for this.   
 
Step 6:  Sign off on sales contract once a buyer has submitted an acceptable offer.
 
Step 7:  Provide any additional paperwork to the bank that they might ask for in evaluating the short sale.
 
Step 8:  Go to closing and sign off on the sale of your home.
 
While short sales might seem simple, the process is very paperwork-intensive.  Its best to hire a real estate agent who specializes in short sales to ensure the process goes smoothly and produces a successful result.  Caroline Allison is an expert at short sales and gets excellent results for her clients.  Fill out the short sale form to get the short sale process started.  Caroline will call you to discuss your options.