Jamaica, NY

Vincent, What is the shortslae process?

The process is rather simple... You may be able to sell your home at fair market value even if the sale's proceeds are less than what you owe on your mortgage(s). This alternative gives you an opportunity to sell your home quickly, while attempting to save your credit rating. At the close of escrow, if the short sale is approved, the proceeds are wired to your bank and your obligations tho them are fulfilled.

The documents required:

• Updated financial information for all parties on the loan (Contact me for more information Click here)
• Completed short sale documents (i.e. Purchase Agreement, HUD Documents etc.)
• Verification of income
• Interior appraisal

The short sale process takes roughly 60 days to complete, however it may take longer.

The shortsale stages are:

• Determination of value - Can be done in the first 2 weeks
• Negotiation and approval of offer - Can be done as quickly as 2-5 days
• Final approval - Can be completed as quickly as 2-5 days
• Escrow closing - Should take roughly 2-4 weeks

For a more detailed explanation check out the following videos:

Shortsale Video in English

Shortsale Video in Spanish

To find the value of your home with a FREE, over-the-net home HIGHEST Price Analysis, please visit: http://www.newyorkmarketvalue.com/