We are a full service company to help you through the short sale process.
Our team handles all the communication and paperwork with the short sale lender.
Let's Talk And Find Your Solution
Assistance in Obtaining All Lender Required Documents for Short Sale
Every lender has its own set of guidelines and paperwork in order to consider a short sale. At Consumers First Title we work with your Realtor and short sale lender to facilitate a smooth transaction.
We work with you, the borrower, and the co-borrower, as well as the real estate agent, to obtain and complete the paperwork for the short sale. Completing a third party authorization will allow us to communicate with your lender as to reduce the amount of calls made to you directly.
How To Proceed
Find a Realtor to list your property with. If you need a referral, Consumers First Title has amazing short sale and foreclosure certified agents we can recommend.
Gather financial documents for review, these include:
Once an offer has been received, we go to work!
Rushed Title Search
Each lender has its own rules about how to handle short sales. In every case, you will need to show some kind of proof, and the information below is a general guideline of what is usually needed.
Most of the time, you, the borrower, and the co-borrower, as well as the real estate agent, will need to fill out paperwork for the short sale to go through.
You’ll also have to fill out a form giving permission for information to be shared with third parties.
You will also have to say why you want what you want. This will include information about your home, loans, and income, as well as details about the things that have made it hard for you to pay your mortgage on time and caused your financial hardship.
In some cases, you may also need to ask for a transcript of your tax return so that your income information can be checked.
It is important to note that you will be able to gather most of the financial information, tax information, and other paperwork and information on your own. However, your attorney or the lender will give you some of the required paperwork you see here.
Ordering of Payoffs of Lien / Judgment
A lien is basically a claim on property that belongs to someone else. For example, when someone gets a loan to buy a house or other property, they sign a contract promising to pay back the money they borrowed. Because the amount the buyer is borrowing is usually more than a normal purchase, the creditor needs some kind of security in case the debtor stops paying back the money they owe or goes into default.
Types of Liens: Standard and Judgment
Most of the time, a judgment lien is part of a court order. For example, if a debtor stops making their agreed-upon loan payments, a court can put a judgment lien on the property to make sure the debtor keeps paying off the loan. Before a judgment lien can be put on a piece of property, the creditor usually has to get a judgment against the debtor. This is usually done through a lawsuit. A judgment lien is like a “cloud” over a property that needs to be removed before the property can be refinanced or used for other financial purposes. When a debtor gets a judgment, it is a lien on all of his real property in the State.
Updates on Lender Status with Weekly Correspondence to You
Once you have a general idea of what kind or kinds of loans you might be interested in, you can start talking to lenders.
Contact a few different lenders; getting to know a few different loan officers is helpful. Different loan types are also available from different lenders. You want to find out more about your choices. Asking questions can help you figure out what type of loan might be best for you.
How to proceed
Talk to people you trust, such as friends, family, and coworkers, about how they chose their mortgage lender.
Ask your advisors, “What were the most important things to them?” Do you also care about these things?
Ask for recommendations. Your advisors might suggest a particular lender or loan officer, especially if they live close to you. Or, they could suggest a way to find a lender.
Ask for more than just names and phone numbers. Ask your advisors why they thought a certain lender or loan officer was good. What was important to them or made them feel comfortable might not be important to you or make you feel comfortable.
A housing counselor is another good person to talk to if you need help figuring out how to find lenders.
Write down the names of possible lenders.
Besides what your advisors tell you, there are many other ways to find possible lenders. Talk to your local bank, credit union, and other financial institutions that serve your area.
at least three of the lenders on your list.
Don’t just go to one lender. By talking to more than one lender about your options, you can learn more about them and get a sense of which loan officers you might feel most comfortable working with. Call each lender and ask for a meeting with a loan officer.
When the time came:
Tell them what they need to know about your situation and the type(s) of loan(s) you are thinking about.
Ask the loan officer if they think your plan makes sense or if they might suggest something else. If they suggest something else, you should ask why.
Ask the loan officer to show you the interest rate, APR, estimated fees, and monthly payments for a few different loan options.
Ask the loan officer to look at your documents and help you figure out if there are any reasons you might not be able to get the loans you’ve been talking about.
Let Consumer First Title
Learn More About The Short Sale Process
FULL SERVICE TITLE COMPANY
Our statewide closing-related services include issuing owners & lender insured title policies, title searches, HUD/CD/ALTA, and escrow-related services.
Our commitment is to deliver exceptional title services with competence, communication, and professionalism. Talk with us now!
Consumers First Title Company has several national underwriter relationships and work with the largest real estate companies, developers, and banks in the Country.
EXPERIENCE YOU CAN TRUST
Consumers First Title’s staff has experience in all facets of title insurance as it pertains to commercial and residential real estate and lending transactions, enabling Consumers First Title to provide title and escrow services with the highest quality of professional support throughout the closing process.
Consumers First Title has been negotiating short sales since 2007 with excellent results for our clients. There is never a charge to the seller or Realtor for assisting with the short sale process.
Consumers First Title’s staff closely monitors new developments with your file and remains in constant contact with your lender. Once your lender provides a counteroffer, acceptance or denial we will relay the information to you and your Realtor and discuss your options.