When time is of the essence and there is not a great deal a borrower can control, our advice is to control the things you can. So, follow the instructions of your short sale specialist to the letter, compile all the requested detail, and make sure everything is accurate and valid. It can be done; you just have to do it right.
The process needs to be initiated in the pre-foreclosure phase which begins with the first mortgage payment default. The foreclosure timeline in your state starts the clock against how long you have to list the home, find the buyer, and get the sale approved by the lender.
The foreclosing lender would like to see that every effort has been made to become current on the mortgage or sell the property on the open market. They want to see that it is listed with a dis-interested 3rd party Real Estate Agent at market value to ensure you are trying to get the highest [...]
