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Midland Mortgage Short Sale Application, Forms And Packages

Short Sale Package PDF

Take the first step to getting started on your short sale. Download Forms Here.

Next Steps

Find out what’s next. Make sure you cross every ‘T’ and dot every ‘I’.  No Mistakes!

Other Mortgage Programs

It may not be too late to try other options. We can review what’s out there.

Get Midland Mortgage Forms

Take the first step to getting started on your short sale. Download Forms Here.

Next Steps

Find out what’s next. Make sure you cross every ‘T’ and dot every ‘I’.  No Mistakes!

Other Mortgage Programs

It may not be too late to try other options. We can review what’s out there.

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Ocwen RMA Loan Modification Package Forms

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Ocwen RMA Loan Modification Package Forms

Limited Time Offer Coupon!

FREE  Custom Midland Mortgage Strategy Session With A Midland Mortgage Experienced Team Member.

Step 1: Midland Mortgage Short Sale Experts

Find out why no one knows more than we do.

Finding The Right Short Sale Agent

Finding The Right Agent

Short sale is common occuring process and one would be curious that it should be an easy process but unfortunately there are a very few professional who specialize in dealing with a short sale. That is why it is very important to find the right professional. If you don’t know where to turn to we’ve got access to a set of elite professionals nationwide. Click here to request a call from a short sale pro or call 888-934-3444. 

Get The Short Sale Listing On The Market

Get The Property Listed!

As a first step you will have to get your property listed as to get the short sale process ongoing. It will not be allowed to you to just bring up an offer. You may be asked for documents such as the MLS Listing and MLS History as a proof that the short sale has been properly listed.

This process should be completed successfully and the Listing Agreement will be amongst the first of the documents required to get your short sale going.

Pro Tip: Many lenders will require you to list for a minimum of 5 days and a weekend before accepting an offer.
NOTE: Midland Mortgage may sometimes prequalify you for the short sale for some cases. They may even tell you to what to list the home as in some cases. Know that all of this is misleading because when you get an offer they will still need to do a full and standard short sale review.

Step 2: The Short Sale Offer

Making an offer on a Midland Mortgage Short Sale is more than just a number!

Real Estate Short Sale Definition

What is a short sale?

A sale for which the offered amount is not enough to pay off all the debt against the property will be called as short sale. It is impossible for lender to review your application without an offer. The lender will also have to see that what is the net amount that you will make them once all the closing costs have been deducted from the offered amount. This includes past due taxes, non-recurring closing costs, attorney fees, settlement fees, title fees, and anything else that may apply.

Best Short Sale Buyer

Find The Right Buyer For Your Short Sale

Strong Short Sale Buyers

As a potential buyer patience is the most important quality you could have. A patient buyer is always better then an all cash buyer and even the buyer who is offering more. Potential buyers are needed to be interviewed by your broker to make sure they are a good fit. Not just the buyer is important but the broker representing the buyer is important.

Previously Approved Short Sales

Previously Approved Midland Mortgage Short Sale

Some bokers have been seen advertising that their short sale was previously approved by Midland Mortgage to make it look like that the short sale process with Midland Mortgage will be quicker. This is misleading. Even if they had previously approved the short sale and all the terms were met they will still need to make a full review.

Pro Tip: Lenders can only review one offer at a time. The process can be hard and have a lot of hoops to jump through. Make sure you choose the one most likely to close. The highest offer is not always the best offer.

Step 3: Submit Midland Mortgage Short Sale Package

Thoroughly review your documents. The wrong information can hurt you!

Midland Mortgage Short Sale Submittal

Submiting Your Short Sale Package to Midland Mortgage To Get The Process Going.

What is in the Midland Mortgage Short Sale Package?

Usually all the lenders are required to have same document requirements. The following is the list of documents which are required: a listing agreement, a purchase agreement, proof of the buyer’s ability to perform such as proof of funds or a prequalification letter from the buyer’s lender. That’s only the beginning.

As a short sale seller they require you provide your financial information such as a monthly budget, your tax returns for the last two years along with a 4506t to show the returns were actually filed, pay stubs or proof of income like a profit and loss, bank statements, reason for requiring to do a short sale, and a hardship letter.

Pro Tip: In most cases working with a skilled team such as ours should be able to pick out the items that will most likely be asked of by your lender. If your lender has to request items it’s likely they passed over your short sale when it could have been reviewed.

Step 4: Midland Mortgage Short Sale Broker's Price Opinion (BPO) or Appraisal

 

Midland Mortgage Short Sale Value

Getting The Right Value Goes A Long Way.

There is only one way for Midland Mortgage to know whether you are eligible for a short sale or not and that  is by completing a value. A broker does valuation in most cases. The broker compares similar properties that are currently listed in the area but more importantly the properties that were sold in the last 3 to 6 months. They consider the homes perceived condition,how many stories it has, the size of the living space, the size of the lot and whether or not it has a pool.

They will also consider market conditions and how fast homes are selling in the area. There are many factors they take into consideration.

Midland Mortgage Short Sale Appraisal

Short Sale Appraisal Values

An agent will give an opinion called a Broker’s Price Opinion (BPO) to the lender, The reason why the lender will need to obtain is because they are already taking a loss. If an investor wants a deeper review they will get an appraisal which is done by an appraiser. Appraisers have specific licenses that are for valuing properties. Some investors such as Fannie Mae (FNMA) complete two appraisals. From lender to lender and investor to investor the type of value completed varies .

Midland Mortgage Value Disputes and Variances

Filing Value Disputes and Variances

What will happen if the value returns too high? This is more common than you think and happens with experts and rookies alike. As much as your try to meet with the BPO Agent or the Appraiser and provide them information that they may use in their report often they are not from the area and compare properties that don’t have anything in common with the subject property.

Pro Tip: Short Sale Variance is an opportunity to apply for a short sale servicer such as Midland to vary from their typical practices. Often values are good from the day they are completed for 90 days; Sometimes longer.

Step 5: Finalize Short Sale Terms

 

How Long Does A Midland Mortgage Short Sale Take

Midland Mortgage’s Short Sale Time Line Coming To An End.

This is the time when to decide whether you are eligible to their criteria to present your case to the investor. it is  decided by the management or undersigned after they have received the value and the complete package that There is an auditing process usually before the submission to management and if approved there is often another auditing process the occurs before an approval letter is issued.

Midland Mortgage Short Sale Counters

Midland Mortgage Counters Short Sale

Unfortunately we know its hard for you buy Midland Mortgage may reject your short sale offer or may even decline it. A special set of skills that can be only obtained by experience is required to fight with these situations. Anyone can get the easy ones done but it’s the difficult transactions that seperates that experts from the rookies

Step 6: Closing A Short Sale

 

Short Sale Escrow

Short Sale Escrow.

Closing of a short sale is similar to the typical escrow transaction. Once all the debt holders have approved the terms, you will be allowed to go forward with the typical escrow process. By now a title search should have been complete to ensure all parties with interest in the property have been addressed.

Short Sale Extensions

Midland Mortgage Issues Short Sale Extension

We get this question all the time that what will happen if the approval letter expires and we have not been able to complete the short sale process? and honestly, there is not a simple answer to this. It depends on delinquency of the mortgage, whether the value they have expired, and many other details. Consult one of our professionals if you need more time to see what we are able to get approved with Midland Mortgage’s Management. Results may vary greatly but the best part of our services is we only get paid if the transaction successfully closes.

Pro Tip: Week one. Strike that. Within a few days of having all the approvals in line you should be able to tell whether or not this buyer is going to really perform. The right professionals apply pressure to all the parties involved to ensure the transaction gets done!
 

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How Does ACG Get Paid?

Absolute Consultant Group (ACG) is a company that consists of professional local brokers to get your property sold in time. We get our payment directly from Midland Mortgage from the escrow closing account. We get nothing if the transaction does not closes. We are geneerally paid from the amount that is paid to the brokers involved in the deal. This service generally costs the seller nothing out of pocket. Call for details 888-934-3444.

Understanding The Midland Mortgage Short Sale Status

If you have got the package and seen it already then you would have realized that it is a fairly lengthy document. Midland Mortgage has not done anything yet so that this process becomes straigh forward and easy for the consumers but don’t worry ACG is here to offer you to  assist with your application for the short sale process to get mortgage assistance from your servicer.

Assistance For Midland Mortgage In America

We (Absolute Consultant Group) can become your only point of contact you would need for all the Midland Mortgage related challenges. Absolute Consultant Group (ACG) will be the only stop you will have to make when you will work with and we will work from start to finish to complete your short sale.

Call Us 888-934-3444 Today.

Midland Mortgage Short Sale Package Breakdown

To Answer what is Midland Mortgage Package?
The foremost thing that Midland Mortgage will require from you is to submit a package called Midland Mortgage Request for Mortgage Assistance. While applying care should be taken to always use the most updated paperwork; It is always beeter to check with a professional first. The paperwork we last found was put up on the Absolute Consultant Group(ACG) Website. ACG helps homeowners with their Midland Mortgage Short Sale and Midland Mortgage Loan Modification process.

There are 10 Sections to the standard Midland Mortgage Request for Mortgage Assistance (RMA) and totaling about 10 pages.

Need Assistance With A Midland Mortgage?

 

Need Assistance With A Midland Mortgage?

 

Short Sale RMA Package PDF Breakdown:

Hardship Affidavit Application Check List

  1. Borrower Information In this section you have to put all the details of the borrower and Co Borrower.
  2. Property Information You have to explain the address, mailing address and current status of property in this section.
  3. Hardship Information  In this section you are required to put type of hardship and its reasoning.
  4. Borrower income In this section you are required to fill out borrower income type and amount
  5. Current borrower Assets In this section you have to write down the assets of borrower such as cash on hand, account money etc,
  6. Borrower certification and agreement In this section you have to certify that all of the information in Mortgage Assistance Application is truthful and hardship idtentified has contrubuted to submission of this request for mortgage assistance.

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Disclaimer: Using The Wrong Form May Lead To A Denial

We provide mortgage servicers mortgage assistance package, forms, and applications to for educational purposes only. This is a sample document used to obtain mortgage assistance relief workout programs with your mortgage servicer. Prior to completing the form contact your (your client's) Mortgage's servicing department OR one of our professionals at 888-934-3444 to make sure they are sending the right loan modification or short sale package. Your home loan servicer, whether dealing with a Home Loan Modification or Short Sale (mortgage settlement, short pay off or discounted payoff) RMA Package offered on this website may not be the correct package depending on your investor. By downloading this RMA (Request for Mortgage Assistance) from our website does not guarantee loan modification assistance or any other mortgage relief programs to try to avoid foreclosure through mortgage servicer, its agents, employees, affiliates or subsidiaries. Prior to the use of any documents you should consult an attorney.