Quote:
Originally Posted by jorswift  I ahve had my home on the market for about 6 months now. We bought our home a little over 1 year ago and due to job loss we had to move out of town. We have not had to much interest in the home. The home is in a great location and a nice neighborhood. We have dropped our asking price now, to almost what we paid for the home and what it is worth. Should I contact CW about a short sale or try and hold on to the wave? I have great credit and dont want to loose it, but i am tired of paying for a vacant home out of town. please help. thanks. |
Hello,
I think you should contact
CW and write them a financial hardship letter, let them know that the house is in the market for 6 months, tell them that you loss your job and you can no longer afford to make payments and request them that you want to do a Short Sale so you can lower your asking price to the current fair market value of your house. The right pricing of your house, the right agent and attitude is the key to a Successful Short Sale. Ask your agent if he/she has experienced in Short Sale.
You will need the following:
1. Hardship letter
2. Paystubs for the last 2 months
3. Bank statements for the last 2 months
4. List of expenses, add the mortgage payments, car payments, credit card and all utilities, your medical insurance, food, gas, clothing expenses
5. Letter of Authorization authorizing your agent to talk to
CW.
Based on my experienced with
CW when I did my Short Sale, the most effective tools for me is through fax and call them 2 or 3 a week.
Thank God for Moe, *** and Professor Shays for all the help, tips and information they gave me, they really helped me and others.
Hope all is well with you.