My home is in trouble, now what?
Monday, July 26, 2010
The first and single most important question I ask homeowners who turn to me for help is:
Do you want to keep your home?
Assuming that the answer is yes, I will be more than happy to set you down the right path with the right resources at your disposal. As a Certified Distress Property Expert, I have more resources and education than most regarding this subject. The process can be daunting but with the right guidance and encouragement, it can be done.
In the event, that a loan modification does not work, or the answer to the question is no, then I can make this processes as painless as possible because I take care of everything up front and don’t drag things on.
Don’t get me wrong, there is nothing “short” about a short sale. What I can tell you is that I will spend several hours with you one-on-one preparing our documents and assembling a good package to submit to the lender. Even though it is a heavy investment of time up front, there will be little work for you to do down the road.
Once you provide me this information, keep track of all of these documents as they come in. The short sale process might take a couple months. That means you should be keeping all of your new paystubs and bank statements so we can be ready to submit them if the bank asks for them.
- Two months most recent mortgage statements (all mortgages)
- Two months checking account statements (all borrowers if separate)
- Two months savings account statements (all borrowers if separate)
- Two months other account statements (all borrowers if separate)
- Last two paycheck stubs (all borrowers)
- Two years tax returns
- Hardship Letter
- Financial Worksheet (I will provide this to you)
