Does Your Realtor Include A Loan Modification Waiver In Their Short Sale Package?
Hi, this is Saul Carter with Others Realty. I’m one of the leading short sale experts in the Modesto area. If you are facing a tough financial situation and are facing foreclosure, I can provide you with information and resources as well as show you some alternate options to foreclosure, such as short selling your home.
I wanted to talk to you today about a specific document that doesn’t show up in everyone’s short sale package, but that I do have as part of mine. It’s something called a loan modification waiver, and I would assume that over time most realtors will start to include them in their short sale packages. The loan modification waiver is a document that states you have considered doing a loan modification and it’s either not in your best interest or you don’t want to do a loan modification anymore.
When we’re working together to short sell your home, this document works to our advantage and puts your declination of doing a loan modification in writing for when I send your short sale application into the bank. It also ensures that the paperwork goes to the right department at the bank; I’ve had instances in which there has been some confusion with the bank when this document isn’t included in the short sale package and they think that I am actually applying for a loan modification instead of applying for a short sale. I’ve included this loan modification waiver document to avoid this type of confusion in the future; this also helps if you have been doing a loan modification and notifies the bank in writing that you don’t want to continue with the loan modification anymore and are going to do a short sale. If you have any further questions, please give us a call or fill out the "Getting Started" form on our website; we can help you out with your specific situation or answer any questions you may have regarding short sales.
Related links:
- Government Program Causes Foreclosures
- Who Will Want a Copy of Your Tax Returns During a Short Sale?
- Things You Need to Know About Short Sales and How They Can Help With Divorce Issues
- How Much Information Should You Disclose When Writing Hardship Letters for the Bank?
- Having a Realistic Outlook on Home Prices for the Year while considering a Short Sale
About Saul Carter
Graduate 1995 BA in Business Administration, Marketing from California State University. Started in Real Estate 2002, sold residential for 9 months before moving into Commercial Real Estate, Specialized in Retail and Office space in the Central Valley of California. When the market turned in 2007 was caught off guard as commercial real estate dried up. Starting in late 2008 started pursuing short sales as a business strategy. Has Closed 50 short sales since January 2009. A combined total of liens negotiated: 82. Negotiated forgiveness of Debt: over $11 million. Has been an independent real estate broker since 2006. Started Others Realty in mid 2009.