Short Sales
A short sale is when a property is sold for less than the balance of what is still owed as mortgage payments for a specific property. A Short sale can be very beneficial to the seller, and is a better option than foreclosure. A Short sale enables a seller (under Fannie Mae guidelines) to buy a new home in two years rather than five to seven years. In some cases, a seller will be eligible to buy a new home immediately. Short sales largely improve credit ratings for the seller.
Below is a list of all documents ‘Structure Title Services’ will need before conducting a short sale. If you have questions about a short sale, or its process please call Structure Title Services at 954-509-3752.
- TWO (2) YEARS TAX RETURNS (Years collected or needed )
- W-2’S AND / OR 1099’S
- LAST TWO (2) MONTHS PAYSTUBS (Months collected or needed)
- FOUR (4) MONTHS CURRENT BANK STATEMENTS (Months collected or needed)
- HARDSHIP LETTER
- CURRENT LIST OF MONTHLY EXPENSES
- LISTING AGREEMENT
- SALE / PURCHASE CONTRACT
- PRE APPROVAL LETTER OR PROOF OF FUNDS FROM NEW BUYER
- AUTHORIZATION TO RELEASE INFO TO STRUCTURE TITLE
- ADDENDUM TO PURCHASE / SALE CONTRACT FOR STRUCTURE TITLE
Please find below downloadable documents with more information to be completed. Please forward all correspondents and needed documents to:
Fax: (877) 503-7227
Email Structure Title Services: info@structuretitle.com
Short Sale Document Check List
Authorization to Release Information