Banks all require that you provide them with a certain set of documents in a Short Sale package. The following are the documents that most banks all require before they entertain a Short Sale

1.) A hardship letter from the homeowner outlining what is causing missed payments and what the homeowner has done to try to change the situation.

The letter should start with a brief identification of the property, the loan number and a sincere apology for the situation.

Then the homeowner should tell in their own words exactly what caused the missed payments. Extensive medical bills? Job loss? Did the homeowner retire, cutting income substantially? Has an adjustable rate loan readjusted? Is the home underwater on its mortgage? Has the homeowner been transferred to another part of the country and the home is not selling? All of these are valid hardships that can be explained in a letter to the Lender’s Loss Mitigation Department.

Also include a description of any efforts the homeowner has made to resolve the problem. Has a new job been found? Have they eliminated all discretionary spending?

2.) Everyone who contributes to the household income should submit their two most recent pay stubs. This can be payment from an annuity, child support, alimony, and any commission income from the last few months.

3.) The bank will also want to see profit and loss statements and balance sheets from any business the homeowner might own.

4.) In order to get an idea of the homeowner’s spending habits, the bank will want to see your last two months’ bank statements. If the homeowner has a lot of credit card debt, they might be able to get a debt counselor to work with the Lenders to restructure the debt to have lower interest rates and monthly payments or forgive some of the debt altogether.

5.) Tax returns from the previous two years. The bank wants to see these so they can get an idea of the homeowner’s financial security as well as their ability to make good on their debts. This also comes in handy for the bank because they can see if the homeowner has any resources that the lender can tap into if they foreclose on the property and decide to pursue a deficiency judgment against the homeowner.

6.) The bank also wants to see a realistic budget for the homeowner. If the homeowner’s budget is $300 above or below balanced on average, they might be able to restructure their finances if they prefer to save the house.

7.) The bank will also want to see a listing agreement with an asking price. The listing should include the agents normal commission as well as standard closing costs. In almost every case, Lenders will pay closing costs and commissions to agents if they approve a Short Sale.

8.) Your offer. You should also provide the bank with your power of attorney that gives you the ability to negotiate with the bank and list the property with a real estate agent on the owner’s behalf. If you don’t have the documents, you won’t be able to do these types of deals.

9.) Power of Attorney. You must have an authorization form giving you or your negotiator permission to talk to the Lender. This is actually the first document that you should obtain from the homeowner so that you can obtain any special instructions from the Lender before the Short Sale package is submitted.

Just collect these documents and you are well on your way to getting a short sale done!

Learn more about short sale investing. Stop by Bob Massey’s site where you can find out all about how to do a short sale and what they can do for your lifestyle!

For many people the elation of getting a new job or promotion is quickly replaced with the dread of packing and moving to a new location. When moving many people must spend time finding a new home that may be many miles away. In addition most people must work up to the time that they actually leave the home. The thought of hiring professional movers is normally not the first thought that people have.

Professional movers have been trained in packing and moving all types of furniture and glassware. When a person is moving they can quickly become overwhelmed with the amount of stuff they have. Many times important pieces of furniture are broken because an individual does not know how to store it properly in a truck.

Contacting moving companies to find out what types of services they provide and the cost of the services can save an individual time when moving. Most moving companies include many services in their quote in addition to the number of movers required to make the transport of good smooth and successful.

When a person is contemplating a move they can save time, money, and energy by calling moving companies to get quotes for the services that they will need. Many companies offer quotes for packing, loading, and storage of items when a house will not be ready for move-in when the move-out must be completed.

These companies send in movers to pack and load furniture and items using boxes and filler especially made for protecting the items. The movers will then load a household in a truck in the way that will best protect the items during transport.

Movers pack items so that they can be tightly packed in a van or truck. This type of packing secures all of the items from the top of the truck to the floor. When the truck takes a sharp turn of meets a road hazard the items do not jar loose and fall. There are also several types of rope that are used to secure large items to the walls of the vans. These ropes and pulleys are attached to the walls of a van and keep the large furniture from sliding on the floor of the truck.

Movers often can save a household the time and worry of trying to pack and move while locating a home in a new location. In most cases an individual can drive to the new location, find a home, and meet the movers at the new home. They do not have to worry about the old house once they leave it for the last time.

Most professional movers must go through extensive training to learn the different methods for packing and loading a moving truck in the most effective and efficient manner. They work very hard to ensure that trucks are not loaded in a way that will allow furniture and boxes to become dislodged and fall during transport.

Moving can be a stressful experience for a household. It is often difficult to remember all of the small details that one must attend to prior to the move. It is also difficult to conduct one’s life as usual when a move is impending. Through the use of professional movers much of the stress of a move is relieved and one can focus on the many details that must be addressed.

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