Like HUD, which is an FHA loan,” the experienced HUD short sale agent Kris Lindahl says, “has what is called an Approval to Participate document, which gives the value of what the bank wants to sell the property for.
Blaine, MN (PRWEB) November 10, 2012
Kris Lindahl, a top HUD short sale agent says, “Unlike many people that are trying to make money on every aspect of the current real estate situation, I am trying to help people get their short sale questions answered so they can determine if a short sale is the right option for their situation.” Kris Lindahl continues, “that is why I am producing this Short Sale Video Collection, that provides valuable information on how the different banks handle a short sale process, along with videos that explain the differences in some type of mortgages, and their short sale process.”
HUD Short Sale Agent Kris Lindahl explains, “that the way the short sale process works, depends on the type of loan. For example, Wells Fargo or another lender could be the servicer on the loan, and the investor could be Fannie Mae, Freddie Mac, FHA, or the VA. HUD is an FHA loan. Since there could be different investors on the loan, and depending upon which investor is involved, the process is different.”
“With a standard Freddie Mac, or Fannie Mae conventional loan the entire short sale is negotiated on a website called Equator.com.” The Equator.com website is a complete solution website for Default Servicing, which Improves efficiency while enabling compliance with regulatory requirements and internal policies, using Equator's proven solutions.
“VA loans have their own set of documents,” Kris Lindahl explains, “plus there are different things within each of the investor specific documents that will change how the short sale process works.” Kris Lindahl adds, “with a traditional type of short sale, all of the approval letters come through the web site Equator.com, or they go through a secure messaging system.”
Kris Lindahl explains, “The typical documents that homeowners are going to need for a short sale, are their last 2 bank statements, their last 2 pay stubs, their last 2 years of tax returns, W2’s, and some lender specific addendums, and an Arms Length Affidavit. Plus, depending upon who the investor is, there are investor specific documents.
Like HUD, which is an FHA loan,” the experienced HUD short sale agent Kris Lindahl says, “has what is called an Approval to Participate document, which gives the value of what the bank wants to sell the property for. So the homeowner has to agree to the Approval to Participate document, even before they get the approval on the short sale.”
Call the experienced HUD Short Sale Agent Kris Lindahl at the new national short sale hotline (877) 371-1733 for short sale information.