Solving the Foreclosure Crisis One Homeowner at a Time...

Thanks for joining us as we talk about real estate items pertaining to the Phoenix Metro Area. There are alternatives to foreclosure. Let us help you. Foreclosure should always be your last resort. For more information on how to avoid foreclosure and a list of homes for sale, please visit our site at http://www.marydrefs.com/. Need to find or sell a house?? Call us at 623-694-0354.

What is a Short Sale?? Click Here.

Tuesday, June 1, 2010

It's The Bottom Line That Counts

Recently I realized that lenders in a Short Sale don't place as much importance on the reason for a short sale as I thought. They don't seem to care as much about the reason for a hardship as they do the current numbers on the financial pages. Banks deal in hard numbers and as long as the bank is financially pleased, they will approve a short sale. If the numbers do not make financial sense for the investor, the lender will turn down a short sale.
The most important piece of paper submitted to the lender in a short sale is the financial page which outlines the monthly budget. Be sure to be precise and accurate when filling out this page. It is the most important of all those submitted.

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