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Short Sales >2. How to Request a Short Sale If you are facing foreclosure and are considering selling your home as a short sale as an out, get in touch with a trusted real estate professional immediately. They will be able to assist you in the process of requesting to short sell your home.
- Your real estate agent will most likely tell you that some banks will not allow a short sale to happen. Contact your lender’s loss mitigation department and speak with a supervisor. Explain your financial situation and ask if you qualify to sell your home as a short sale.
- Ask the supervisor what documents you’ll need to proceed and make copies of those. (Depending on the lender this could be anything from bank statements, tax forms, pay stubs, etc.)
- Ask your real estate agent to come up with a comparative market analysis report to show your lender how much the home is worth based on home sales in the area.
- Write a letter of financial hardship detailing the reasons you are no longer able to make payments on your home.
- When you’ve completed all the aforementioned necessary paperwork, compile it together and mail it to your lender’s loss mitigation department.
- Pending your short sale application approval, request a deficiency release from the bank. The release absolves you of any obligation to pay the balance on the mortgage. If the bank refuses, continue to press the issue.
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| Q |
What Las Vegas hotel is famous for its casinos and is the largest hotel in the US.?
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| A |
With 5,012 rooms, the MGM Grand Casino is considered the largest hotel in the US. |
 See More Real Estate Trivia > |
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Kay Cheek
Ebby Halliday Realtors
1415 Legacy Drive, Suite 100
Frisco, Texas 75034
Voice Mail: 972-733-8025
Office: 972-335-6564
Fax: 972-335-6567
Email: kaycheek@ebby.com
The Kay Cheek Team is Ebby's #1 Company-Wide Team. In addition, Kay is a Company Wide Top 10 Honor Roll member and a VIP Customer Service Award Winner. She brings 30+ years of residential real estate experience to the Dallas, Plano, Frisco, Southlake, McKinney, Allen, Prosper, and Park Cities areas.  
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