4 Ways to Improve Your Short Sale Package
Monday, December 14
From the Tip Bucket, here at Short Sale Artisan Tip #1: Research the Lender! Each lender is different, so make sure you know what the lender needs in a short sale package. Many lenders have specific procedures that need to be followed and documents that need to be completed for your package to be...
How to Write a Hardship Letter that Gets the Bank to Say "Yes!"
Tuesday, December 08
A well-crafted and ironclad hardship letter is probably one of the biggest components to getting a short sale approval from the bank. Without clear description of the dire straights the borrower finds themselves in, no lender will willingly short the loan. So how do you go about writing a letter ...
Why do banks reject short sale offers?
Monday, November 30
I was reading this blog over the weekend and it gave some of the reasons short sales are rejected by banks: The point is short sale involves a loss in the part of the lender. That is why before they accept any request for it, your package, the reasons and all details of your short sale needs to b...
CNN Video on Mortgage Delinquency and Foreclosure Rates - Amazing Statistics!
Sunday, November 29
CNN reports some incredible facts as it relates to the mortgage industry. The Mortgage Banker's Association (MBA) 3rd Quarter Reports indicate some pretty unbelievable statistics about the state of foreclosure and delinquency: 9.64% of all mortgages are in delinquency 4.47% of all mor...
Market faces short-sale stampede in 2010, forecasters say
Sunday, November 29
From the NC Times: Short sales of homes frustrate buyers, annoy lenders, and cause real estate agents to tear their hair out waiting for deals to close. In 2010, there will be a whole lot more of them, a market research firm said. Surveys conducted by Campbell Communications show that short-sal...
Great links and resources for Short Sale professionals!
Sunday, November 29
The web is all about education and learning so let's share some knowledge! Here are some great sites we have picked up on that help you do your job: Home Repair Cost Guide - useful when estimating repair costs to submit to the bank HUD-1 Official Form - the "official" form! Field G...