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RoundPoint 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 RoundPoint 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

Limited Time Offer Coupon!

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

Ocwen RMA Loan Modification Package Forms

Limited Time Offer Coupon!

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

Step 1: RoundPoint Mortgage Short Sale Experts

Find out why no one knows more than we do.

Finding The Right Short Sale Agent

Finding The Right Agent

It is very important step very important as you are going to select the right professional for your short sale process. Although the short sale is a common occuring process but still there are a very few professionals in the market that can properly deal with the situation. We have a great team of professionals nationwide if it is still doubtful for you where to turn to. 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!

The next important thing you will have to do is get your property listed by working with an agent so that your property gets a fair review. Lender will not allow you to just take an offer to them. 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.

You can not proceed to next step until you have completed this step properly 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: RoundPoint 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. It 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 RoundPoint Mortgage Short Sale is more than just a number!

Real Estate Short Sale Definition

What is a short sale?

When the offered amount for a property is not enough to pay off all the debts taken against the property then such a sale is called as a short sale. You should have an offer for the property otherwise lender will not be in position to review your application . The lender will take an interest in what is the net amount that you will make them in the end once all the closing costs have been deducted from it. 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

Patience is most important quality as a buyer. A potential buyer willing to wait is better than all cash buyer or even the buyer whose offer is more than others. Your broker is required to interview the potential buyers to make sure they are a good fit. Broker representing the buyer is as important as the buyer

Previously Approved Short Sales

Previously Approved Bay view Short Sale

It has been often been seen advertised by agents that their previous short sale with RoundPoint Mortgage was approved successfully but this is to mislead. Even if previously all the terms were met and approved still they will need to make a full review.

Pro Tip: One offer can be reviewed at a time by lenders. The process can be hard and require a forth effort to make through. Make sure you choose the one most likely to close. Highest offer doesnot always come with the best value.

Step 3: Submit RoundPoint Mortgage Short Sale Package

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

RoundPoint Mortgage Short Sale Submittal

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

What is in the RoundPoint Mortgage Short Sale Package?

Usually lenders demand following list of documents  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 also require you to 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: 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: RoundPoint Mortgage Short Sale Broker's Price Opinion (BPO) or Appraisal

 

RoundPoint Mortgage Short Sale Value

Getting The Right Value Goes A Long Way.

Lender will complete a valuation in order to know whether the person is eligible for the short sale or not. A broker completes valuation by comparing the properties similar to the property in question which are either currently listed or have been sold within 3 to 6 months. They consider the homes perceived condition, the size of the lot, the size of the living space, how many stories it has and whether or not it has a pool.

Market conditions and how fast homes are selling in the area will also be considered. There are many factors they take into consideration.

RoundPoint 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. The type of value completed varies from lender to lender and investor to investor.

RoundPoint Mortgage Value Disputes and Variances

Filing Value Disputes and Variances

It is more common occurrence than you think that sometimes a value returns too high and it can happen to both professionals and experts. Sometimes the agent makes a mistake and compares properties that have nothing in common because he/she is not from the area.

Pro Tip: Short Sale Variance is an opportunity to apply for a short sale servicer such as RoundPoint Mortgage 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 RoundPoint Mortgage Short Sale Take

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

At this time the undersigned will have to decide whether you qualify and to send your file to the management or not. Usually there is an auditing process before submission to the management and if approved there is often another auditing process that occurs before an approval letter is issued.

RoundPoint Mortgage Short Sale Counters

RoundPoint Mortgage Counters Short Sale

Rejection or counter of your short sale application may occur at that time. Someone with special skills are needed to compete with either of these situations. Such skill can only be acquired by experience . Anyone can get the easy ones done but it’s the difficult transactions that seperates that experts from the wannabees.

Step 6: Closing A Short Sale

 

Short Sale Escrow

Short Sale Escrow.

If you ever came across a  typical/traditional escrow  a short sale escrow will look very much similar. The escrow process will start after all the debt holders have given their approval. Title search is issued by now to ensure that all the interest holders in the property have been properly addressed.

Short Sale Extensions

RoundPoint Mortgage Issues Short Sale Extension

One question that we keep on getting is what If short sale process has not beeen able to complete and the approval letter expires ? To be honest, there is not a simple answer to this. It depends on lateness of the mortgage, whether the value they have expired, and many other details. If you need more time to see what we are able to get approved with RoundPoint Mortgage Management consult one of our professionals. Results may vary greatly but the best part of our services is we only get paid if the transaction successfully closes (we are gernerally paid from the real estate comissions awarded to the agents involved and paid out of RoundPoint Mortgage’s net).

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 working with team of local brokers, if you need to sell your property on time contact us. We get the compensation for our services directly from RoundPoint Mortgage. We do not get compensated for anything if the transaction fails to close in the end . The agents involved in the deal are awarded an amount for their services and usually we also get our payment from the same account. This service generally costs the seller nothing out of pocket. Call for details 888-934-3444.

Understanding The RoundPoint Mortgage Short Sale Status

You have noticed it by now that package for RoundPoint Mortgage is a pretty lengthy and difficult document. RoundPoint Mortgage has not done anything in order to make the process for its consumers any simpler but you don’t have to worry because ACG is here to help you with the application for the short sale process to get mortgage assistance from your servicer.

Assistance For RoundPoint Mortgage

ACG can provide you help in every challenge regarding RoundPoint Mortgage. You will find that ACG one stop shop regarding the mortgage relief services and we will be the only point you will have to contact. We can help you to complete your short sale with them.

Call Us 888-934-3444 Today.

RoundPoint Mortgage Short Sale Package Breakdown

To Answer what is RoundPoint Mortgage Package?
If you apply for mortgage assistance with RoundPoint Mortgage then the first thing required from you will be a package called RoundPoint Mortgage Request for Mortgage Assistance (RMA). You must make sure that the package you are submitting is the latest one; it will be surely benefiting if you consult with a professional first. The paperwork we last found was put up on the Absolute Consultant Group(ACG) Website. ACG helps homeowners with their RoundPoint Mortgage Short Sale and RoundPoint Mortgage Loan Modification process.

There are 9 Sections to the standard RoundPoint Mortgage Request for Mortgage Assistance (RMA).

Need Assistance With A RoundPoint Mortgage?

 

Need Assistance With A RoundPoint Mortgage?

 

Short Sale RMA Package PDF Breakdown:

Hardship Affidavit Application Check List

  1. Borrower /co-borrower Information This section will require you to fill out all the personal details of the borrower and co-borrower.
  2. Household Income. You will put all the details about the total income of the borrower.
  3. Monthly Borrower asset This section will contains all the details of the assets.
  4. Monthly Borrower Expenses This section will contains all the details of the monthly expenses.
  5. Hardship affidavit/letter In this section you are required to put type of hardship and its reasoning
  6. Borrower/Co-Borrower Acknowledgement and Agreement This section requires your signature authorizing that everything you have stated is true etc.
  7. Form 4506-T  The final document in the whole page is the 4506-t which is used in order to verify the tax returns that you provided.  Make sure to follow the directions thoroughly.
  8. Real Estate Fraud Certification Both borrower and co-borrower represent that they have not be convicted within last 10 years. Both of them sign the form
  9. Home Affordable Modification Program
    Government Monitoring Data Form 
    You are not required to furnish this information, but are encouraged to do so. If you furnish the information, you have to provide both ethnicity and race.

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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.