Foreclosure Solutions – Short Sale Package Challenges – You Can Do it Yourself
The short sale is a very good tool to be used for two reasons: extends the foreclosure process for many months and saves the homeowner from a public (foreclosure) sale. It appears that short sale is a good solution if the homeowner wants to keep the house and also if he wants to sell it. It works perfectly in both cases. The biggest challenge people have is preparing the short sale package. It is important the package to be put together correctly. Usually, the lender sends a list of items needed for the package. And if something is missing, they will send a letter requesting the document. I think that sometimes is a good idea to miss something. It can add one more month to the process. Any communication with the bank buys more time for the homeowner. Now, back to the package. The items that need more explanation are: 1. The buyer. As a homeowner who wants to initiate a short sale, you must find a buyer. (In my opinion, real estate agents are not the best choice). You can look for a buy
