Short Sale has less impact on your credit than a foreclosure. The bank accepts a lesser amount than what is actually owed on the balance of your note. A short sale will stop a foreclosure if requested in time.. A short sale will be reported as a settlement by the credit bureau's. You may be eligible for moving expenses if there are enough funds at settlement.
All subject to third party (bank) approval.
- Items I will prepare for you or need from you
- 3rd Party Written Authorization
- Hardship letter
- Loan Number
- Last 4 SSN
- 2 years Tax Returns
or 4506T - 2 months Bank Statements
- 30 days of Paystubs
- Expense Report
- List Agreement
- MLS Listing