What IS a Short Sale anyway?
If you've been in real estate the last 10 years, chances are, you've heard of a short sale. So what is a short sale? Selling your property for less than the balance owed (the proceeds from the sale fall short of the amount necessary to pay off your mortgage) is a short sale.
A short sale is an option to avoid foreclosure for homeowners. In a short sale, your mortgage lender agrees to accept less than the amount owed on the debt. If you qualify for a short sale, your Realtor will work closely with a short sale negotiator to determine a fair sale price based on current market conditions. Your lender will also set a timeline for the sale of your home.
Click the following links to download your specific lender's short sale package*. The link will forward you to the Dropbox folder containing the documents. You may view, print, or download at your leisure.
- Century 21 Short Sale Package
- Bank of America Short Sale Package (if your investor requires an AUCTION.COM Agreement, click HERE)
- Bank of America HELOC Package
- Ditech (formerly GreenTree)
- Mr. Cooper (previously NationStar)
- Ocwen (if your investor requires a HUBZU Auction Agreement click HERE)
- SLS (Specialized Loan Servicing)
- SPS (Select Portfolio Services)
- Wells Fargo
*Packages deemed current to the best of knowledge. Lender may require updated or additional documents during the short sale process.
This is not intended to be legal advice.