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As a buyer, you have to expect these long waits. Patience is the key to Short Sales. Each one is different and each bank has their own procedure.
The first step of a short sale is to gather all for your paperwork. This consists of the following basic documents:
Last 2 years' of tax returns
Last 2 W2s / 1099s
Last 2 bank statements
Last 2 payroll stubs
Financial statement or 1126
Form 4506
Signed and dated hardship letter
What else can I help you with?
How long is a property on short sale before it goes into foreclosure?
If you stop paying you mortage how long does it take before the bank will forclose
How long will you credit be messed up if you are doing short sale?
A short sale is an option when a property owner is not able to afford the obligations of a loan. The amount of time a short sale is on a credit report can be answered by a lawyer who is assisting in the short sale. A short sale may hinder future loans.
How long does a short sale stay on your credit?
10years...
What is the advantage of having a real estate short sale?
The advantage of having a real estate short sale is that the seller avoids a foreclosure, does not take a toll on one's credit rating or FICO number. The buyer moves into a new home at a big discount, the lenders also dont have to take part in a long, drawn out sale process.
How long can it take to get approval from the bank on a short sale?
on the hgtv program "my first place" it took 3 months , and my cousin is still waiting after 3 1/2 months !
How long is a property on short sale before it goes into foreclosure?
If you stop paying you mortage how long does it take before the bank will forclose
Does sale have a long or short vowel sound?
long
Does sale have a short or long vowel sound?
The word "sale" has a long vowel sound, pronouced as /seɪl/.
How long will you credit be messed up if you are doing short sale?
A short sale is an option when a property owner is not able to afford the obligations of a loan. The amount of time a short sale is on a credit report can be answered by a lawyer who is assisting in the short sale. A short sale may hinder future loans.
How long does a short sale stay on your credit?
10years...
What is the advantage of having a real estate short sale?
The advantage of having a real estate short sale is that the seller avoids a foreclosure, does not take a toll on one's credit rating or FICO number. The buyer moves into a new home at a big discount, the lenders also dont have to take part in a long, drawn out sale process.
Does the word stale have a long a or short a?
The word "stale" has a long a sound, pronounced like "stay-ul."
Does anyone have a red bedbox for a 01' f250 for sale?
long or short
Does homeowner of a short sale have to take bid that meets bank price?
no
What are the release dates for Property Virgins - 2006 Short Sale for the Long Run?
Property Virgins - 2006 Short Sale for the Long Run was released on: USA: 23 June 2010 Canada: 25 October 2010
How long can it take to get approval from the bank on a short sale?
on the hgtv program "my first place" it took 3 months , and my cousin is still waiting after 3 1/2 months !
How long after a short sale can you buy another house?
In the United States, you will need to wait three years after a short sale in order to buy another house. This is per the Federal Housing Administration.
