Fax Or Mail?
When doing a short should you ask the loss mit to fax you the short sale package or mail it to you? and also when the package is completed should you mail it or fax it? and if you are faxing it how going to fax the pictures?
thanks..............
Definetly have them fax it back to you, most of the time that will also be the option that the lender suggests. Upon completion of the package you will also fax it back to the lender. If you fax the pictures with your package most likely they will be clear enough to make out.
I have a seller with a 80/10/10/ loan - will the second mtg present a problem with a short sale? The mtgs are with the same company - will that allow me to use one ss package? a divorce is involved as well - is past child support attachable or does it have to be in the form of a lien to be attached to property?
Thanks, tk
Foreclosure results from the mortgagor's financial problem that has been compounded into a legal problem. Whenever a preforeclosure short sale is indicated, all parties must be mindful of the legalities and foreclosure timeframe for that particular jurisdiction.
I call the preforeclosure short sale acquisition process a blend of art and science. Art in that neatness and presentation counts... science in that you use factual data to support your business Proposal... a hybrid of fact and speculation.
Since not all foreclosures are short sale candifdates, and not all mortgagees will consider a short sale... even a likely candidate... you must be judicious in your short sale pursuits... Despite what is pitched by the smoke and mirror seminararians,... most of what's been written about the PFSS is more the exception than the rule.
A valuable technique to use... if applied in the indicated situation.
[addsig]
there are a number of excellent courses out there on the topic of shorts. i know the Short Sale Pro offers a book or cd in the products section of this site, also you can find really good deals on courses from Jeff Kaller and Ron Legrand on ebay, you dont have to go out a spend a grand but you can get a starter oourse for a couple hundred with more then enough info. hope this helps.
P.S. i suggest Jeff Kallers "short sale in a box" accelerated pre foreclosure training. i got it off ebay for a little over a hundred, come with 5 cds and small binder with a couple of contracts, but since your an attorney you probably have that part covered.[ Edited by ZinOrganization on Date 12/11/2004 ]