A "short sale" is the sale of a party's real property for a lesser amount than that is owed to the bank holding the mortgage.
* The property may, but does not have to be in foreclosure.
* As of January 2007 any short sale of a seller's primary
residence will not result in the bank's issuing a 1099 for
the forgiven portion of the debt.
* Although the seller's credit will have late payments on
it,the credit will not be further harmed because of a
What Is a Short Sale?
A Short Sale is the smart alternative to FORECLOSURE and BANKRUPTCY
There is a major difference between a Standard Resale and a ShortSale.
A short Sale is critically important and it could be the most important financial decision you'll make for your future!
INFORMATION SELLER WILL NEED:
* Copies of survey
* Deed & Old Title Policy
* All Certificates of Occupancy
* Bank Name & Account Number
* Social Security Number
* Last 2 Years Tax return
* Present job Status And Earnings
* List Of Any & All Junior Liens
* Will Need to Write A Hardship Letter to the bank
explaining the reason for the problems your not paying
back the loan.
This is a long process,and you will need a Real Estate Company
that has experienced at Short Sales. Call Us At (631) 764-2913