Short Sale Miami
Miami has been hit by the housing crisis just like any other city, and many of its homeowners are now either in default or facing foreclosure. Fortunately, there are several solutions available, each one fit for a different homeowner. One of the most popular is the short sale, wherein the borrower sells the home at a discount and the lender accepts the payment as full settlement for the loan. While it doesn’t let the borrower keep his home, a short sale Miami effectively gets rid of the financial burden and reduces credit damage on the homeowner’s part.
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Most short sales Miami are handled through the bank’s Loss Mitigation office. This is the department you need to call first—it’s important to know the bank’s policies before sending in your proposal. It also helps to read up on short sales in Miami, from average time frames to relevant state laws.
Once you have the information you need, you can start gathering documents to prove your financial situation. Some of the most commonly requested for short sales Miami are bank statements, tax forms, mortgage bills, and pay stubs or other proof of income. You may also need to write a hardship letter describing how you fell behind and how a short sale Miami will help you get back on track.
To improve your chances of getting a short sale, consider working with a short sale Miami company. Companies like Short Sale Safe offer a wide range of resources to borrowers, and has the market experience it takes to ensure good results. Not only do you get professional assistance, you also get practical advice to help you stay current for the long haul. Don’t wait for your foreclosure notice to come—the sooner you act, the better your chances of coming out on top.