Stop Foreclosure: Common Myth-The Short Sale File Has To Be Perfect Before You Can Submit It To The Lender

Westminster CO – After reviewing many blogs and comments from short sale brokers, there are some agents that believe a short sale lender will not look at a file until the short sale file is perfect. I want to just make a brief comment in regards to that.

Trying to achieve "perfection" is certainly a noble gesture when working a short sale package to the lender. But what I believe is MORE important, is putting together a very concise and complete package, with all the supporting documents OR letters of explanation as to why certain documents will NOT be submitted, the purchase contract, correct HUD-1, and a very concise cover letter to the lender's negotiator!

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Concise cover letter?? YES! We need to HELP out the lender's negotiator. Remember, they probably have in excess of 250-300 files on their desk! We want OURS to stand out as a complete and a comprehensive short sale package in order to achieve a successful short sale approval. This cover letter should have the purchase price, the total selling costs, the NET to the lender, the buyer information, and an itemized list of the short sale package documents being submitted!!

Otherwise, this is what you will get from the lender:

“I need your financial information, last 2 years of tax returns, last 2 pay stubs, last 2 month’s bank statements, and all the other short sale paperwork before I can submit the file”, and anything else they can think of to push your file to the back burners, due to their perception of it NOT being complete!!

Not having a "perfect" short sale package will not prevent any of the process to move forward, but WHY NOT help the lender's negotiators out by providing a package they can easily work to their management or the investor!! This will make THEM look good, as well to the investor!!

Keep in mind, even if the paperwork is perfect and submitted the lender will still want another piece of paperwork or want something modified. It’s just the nature of short sales, and the turn-over of personnel at the lender. Let's do our best to prevent this!!

Be prepared for changes to their policies and personnel. Do what is right and do it better for your Seller in getting the short sale approved!

I can help you short sale your property and get back on your feet. Send me an e-mail at denverforeclosureblog@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 303-521-0984

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Westminster loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Dan Hopper.

Dan Hopper is a Realtor located in Westminster, CO., specializing in Denver loan modifications and Short Sales.

Phone: 303-521-0984. denverloanmodhelp@gmail.com.

View My homes for sale at www.danhopper.com.

Dan Hopper specializes in loan modification assistance and short sales in Denver, Colorado. Westminster Loan Modification Help, Westminster Short Sales. Westminster Short Sale Realtor. Denver, CO Loan Modification Help, Denver, CO Short Sales. Denver, CO Short Sale Realtor. Westminster CO Short Sales. Westminster Realtor.

For related blogs / video blogs, click on the links, below!!

http://denverstopforeclosureblog.com/?p=578

http://denverstopforeclosureblog.com/?p=478

http://denverstopforeclosureblog.com/?p=375

www.youtube.com/user/avoidforeclosures

CATCH DAN HERE:

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Dan Hopper, Remax Alliance, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Dan Hopper's personal views and do not reflect the views of Remax Alliance.

This information on Stop Foreclosure: Common Myth-The Short Sale File Has To Be Perfect Before You Can Submit It To The Lender, is provided as a courtesy to our viewers to help them make informed decisions.