SHORT SALE Boogie - Leander, Texas - Following the rules

It came today, an approval letter and HUD Form 90045 on one of my listings and I am elated and I danced around the room. Boogie Boogie!!! We will be closing sometime next week. I have handled short sales for years, long before the mortgage melt down. I have developed my own set of procedures and checklists to aid in the process. I give potential clients my criteria for accepting them into my program at our first meeting. I listen carefully. Do they really want to sell or do they want a loan modification? Are they wiling to provide and sign a letter of authorization to allow me to talk to their mortgage company? Will they provide me with the information necessary to do my job properly? Are they willing to provide things like their pay stubs, bank statements, tax returns, and a financial statement. Together we discuss a hardship letter and the circumstances that have put them in financial peril. Based on their answers I determine whether they are a viable candidate for success for either program. I don't list the property until I know that I have full cooperation from the seller. Short sales are hard work, and my time is too valuable to waste on those who don't want to cooperate. In this case, I had the dream client. The list of items I needed were completed within 48 hours. We first tried to do a loan modification which I knew was a long shot. It was rejected because my client could no longer afford the property. That denial was a Short Sale qualification and our case was transferred to a Loss Mitigation Specialist. We provided updated financial information and waited for the buyer to show up. Then we dance during negotiations. Within 2 weeks of submitting an accepted offer the approval letter arrived. My client is ready to close the book on this property and her credit is not ruined in the process. I am elated!