If you are facing foreclosure and are considering selling your home as a short sale as an out, get in touch with a trusted real estate professional immediately. They will be able to assist you in the process of requesting to short sell your home.

1. Your real estate agent will most likely tell you that some banks will not allow a short sale to happen. Contact your lender’s loss mitigation department and speak with a supervisor. Explain your financial situation and ask if you qualify to sell your home as a short sale.
2. Ask the supervisor what documents you’ll need to proceed and make copies of those. (Depending on the lender this could be anything from bank statements, tax forms, pay stubs, etc.)
3. Ask your real estate agent to come up with a comparative market analysis report to show your lender how much the home is worth based on home sales in the area.
4. Write a letter of financial hardship detailing the reasons you are no longer able to make payments on your home.
5. When you’ve completed all the aforementioned necessary paperwork, compile it together and mail it to your lender’s loss mitigation department.
6. Pending your short sale application approval, request a deficiency release from the bank. The release absolves you of any obligation to pay the balance on the mortgage. If the bank refuses, continue to press the issue.

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Jim, Caroline and the Davis Team
New South, Realtors
1874 C Slaughter Road
Madison, AL 35758
Phone: 256-325-8500
Fax: 256-325 8504
Email: HomeJames@knology.net

Absolutely Accessible -- Marketing, Promotion, and Profit for Property Owners. When you need the assistance of a Realtor, New South, Realtors and our team of professionals are Absolutely Accessible. We don’t just sell homes (even though we do it faster) we give quality, competent representation for buyers. Our track record of exceptional representation for Buyers and Sellers is unparallel in the market today. The old ways of sticking a sign in the yard and waiting for a call are gone. Information on our new proactive approach is found in our complete marketing package that is available to prospective customers free of charge and obligation. Call or email us today for your free package. 800-515-9959 /256-325-8500