Making a decision to sell your house on Short sale may become easier if you answer few basic questions prior to meeting with your Real Estate agent who should be a Short sale specialist.
Please read carefully and be prepared.
Hope, time comes when no one will ever need to answer these questions.\
Happy Holidays!
If you're in danger of losing your house to foreclosure, and you want to try to do a short sale instead, I know you have a lot of questions.
When I sit down with people to discuss the short sale process, their questions and concerns take center stage over the information I need to get from them. The whole process is so emotionally draining, it would be a great help if the following questions were answered, and info gathered before I arrive.
That way, we don't have to spend time going over all this, but I can focus on what you need from me.
Feel free to print this page and jot down your answers in preparation for our meeting.
Are you current on your payments?
Why do you want to short sale?
Would you prefer to keep the property? If so, have you tried a loan modification or some other type of workout?
Do you have a hardship? Please summarize here (common hardships are job loss, divorce, illness). Most mortgage holders will require you write a hardship letter. I will assist you with that if you so desire.
Are you current on HOA fees?
Are you current on your water bill?
Are you current on your power bill?
Are you living in the property?
If so, do you have a place to go once it sells?
Does anyone who's named on the title have any liens or judgments?
If your lender requires some funds from you in order to release their lien, do you have any funds to contribute?
If your lender requires you to sign a promissory note in order to release their lien, are you willing to consider doing that?
About your loan -
Do you have one loan, or do you also have a second and/or third? Please answer the following questions about each loan:
Is it a conventional loan, VA, or FHA?
Who is the mortgage holder (including address and phone number. I will also need the account number once you decide to work towards a short sale)
What is the approximate balance?
Have you receive notice of foreclosure proceedings (or being 'sent to collections' for a second)?
Have you started any paperwork with your lender?
Upcoming information I will need:
Social Security numbers of all people named on the loan. I need this in order to get approval to speak with your lender about your loan. I will first need to get a copy of the mortgage holders' authorization form.
Hardship letter
Other Posts That Might Be Helpful
A Word of Encouragement During a Tough Short Sale
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I write posts on real estate issues and local events in the Denver metro area, especially those *communities between Denver and Boulder, as a public service. My hope is to give people an idea of the 'flavor' of our community, in case they're new or moving to the Denver area.
I am a residential real estate agent, happily helping folks buy a house or sell a house in the beautiful and friendly *suburbs northwest of Denver.
*Arvada, Broomfield, Lafayette, Louisville, Superior, Westminster; also Thornton, Golden, Wheat Ridge, Northglen, Lakewood
Read more about life between Denver and Boulder
Joetta Fort, Realtor 720-353-8031
Joetta.Fort@gmail.com
www.DreamHouseHunting.com
Helping You Buy and Sell Homes Between Denver and Boulder
HOW SERIOUS IS THE BUYER? When weighing the pricing information, location, house design and condition and all of the evidence shows that the house is priced fairly, if the prospective buyer then makes an offer that is unrealistically low and stubbornly sticks to their original offer and refuses to negotiate price or terms, etc., then it must be accepted that individual making the offer is NOT A SERIOUS HOME BUYER! 
