When thinking of doing a short sale, be prepared with documentation the banks will request.

Simular to when you purchased a home, negotiating a short sale is like a reverse purchase and requires certain documents.

Have the following information ready:
– Bank or Lending Institution and Loan #
– Last 2 years of tax returns
– Lastest 2 months of bank statements
– Latest 2 paystubs

Create a filing system so that you can continue to add to the file, as the banks will request updated information during the short sale process. Keeping a good file system in place will remove some of the stress of finding documents when needed.

If you have any questions about the Short Sale process, we provide FREE confidential consultations. Don’t hestitate to contact us.

Rivera/Mueller Team
Al Rivera @ 602-750-7141
Brigitte Mueller @ 480-620-8593

Let’s face it, there are many of us struggling on a day to day basis to stay on top of our monthly bills. The rate of unemployment climbs, the rate on our mortgages climb, and many of us have fallen behind.

The so-called Loan Modification programs out there have not saved those in trouble. The percentage is so low and the reality is that it does not resolve your problem. It may give you temporary relief, if that, and while you are waiting for the banks to modify your loan you are falling further and further behind. It’s a known fact that you cannot short sell your home when you are in the loan modification cycle, and by the time you find out you don’t qualify for the modification – you are so far behind there is no hope of catching up.

The sad truth is that many of us must give up our homes, but think twice before you go to foreclosure. Foreclosure may not be the best solution for you.

While selling your home may be a tough decision, the dream of homeownership is NOT dead. A typical homeowner can purchase a new home within 2-3 years after the short sale of their current home, while a foreclosure prevents you from purchasing for 7-9 years on average.

We offer FREE private consultation to help answer your questions about the option of a Short Sale.

Give us a call.

Rivera/Mueller Team

Brigitte @ 480-620-8593
Al @ 602-750-7141