A short sale occurs when a property is sold and the lender agrees to accept LESS THAN what is owed on the mortgage as payment in full.

When does a short sale make sense?

A short sale makes sense when the outstanding obligations (loans) against a property are greater than what the property can be sold for.

How does a short sale work?

A short sale package needs to be prepared and faxed to the bank that holds the mortgage on the property. The short sale package includes the following:

• Authorization Letter  — Allows us to negotiate directly to the bank on your behalf
• Hardship Letter —     – This letter explains to the bank the reason(s) for your financial hardship.
• Pay Stubs
• Bank Statements
• W2′s or 1099′s or Tax Returns

Sample Authorization Letter: Download Authorization Letter

Sample Hardship Letter: Download Hardship Letter