U.S. Realty Short Sales
Who We Are
We are foreclosure specialist who work directly with homeowners to stop their foreclosure. We look to purchase over-financed properties and help debtors facing foreclosure that have contacted us. We help homeowners focus on solutions not problems. Our company has helped other homeowners in foreclosure to regain financial stability and self respect. We believe homeowners can escape from this negative situation by utilzing companies such as ours, where we benefit only when our customer does. Our primary goal is to stop your foreclosure!BEWARE OF SCAMS!
What telltale signs should tip off financially distressed homeowners?No. 1: If the company claims to be able to guarantee success in preventing foreclosure, don't listen further to the marketing pitch. Nobody can guarantee you'll get a loan modification, and nobody can guarantee that your lender won't pull the plug and foreclose.
No. 2: Although there is no federal law against collecting fees in advance - any company asking for $1,000 to $4,000 in advance should be checked out thoroughly before sending in any money.
Short sales can be stressful and a time-consuming process. But in many cases they will be necessary in order to get you out from under your mortgage debt, especially with property values declining like they are today. By doing a short sale, you will be able to take a large bite out of the money you owe to your mortgage company, so that you are no longer liable for the entire amount.
In order to start the short sale process, there are several documents that are needed from you (see below). First off is a third party authorization. This form is so that a third party can speak to the bank on your behalf. This will be included with the rest of the short sale package, or it can be sent over ahead of time. In cases where your Lender requires your property to be listed in order for them to accept a short sale, then we can refer you to many of our top-producing, local agents that we have worked many successful short sales with.
Typical Short Sale Requirements (to be collected from the homeowner)
- Hardship letter – which states what happened to cause you to fall behind, when it happened, and what you’re doing to fix the situation
- Financial worksheet – a breakdown of all your income and expenses
- Your last month of pay stubs or a recent profit and loss statement if self-employed. If you can’t provide either of those then you’ll need a signed and dated explanation of why.
- Your last two months of bank statements
- Your last two years of tax returns (the first two pages only)
- Purchase and Sales Agreement and a listing agreement
In some cases your lender may require additional documentation, or they may require updated documentation, so always keep important paperwork handy and be ready for those requests! If you’re unable to provide requested paperwork in a timely fashion the lender may close your file and you’ll need to start all over! *please note: If you don’t have one or more of the short sale required documents please hand write a letter stating why you do not have that document(s) and sign and date it.
Once those documents are collected the short sale package will then be submitted to the lender(s) and the process will begin. And once the process has been initiated on your property you’ll be able to check the current status of your short sale by visiting U.S. Realty Short Sales. You will be given a secure login and password to view the status of your short sale in Real-Time. You’ll also be able to access any other documents you may need, or that will be needed from you.
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