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Shellpoint 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 Shellpoint 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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Limited Time Offer Coupon!

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

Limited Time Offer Coupon!

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

Step 1: Shellpoint Mortgage Short Sale Experts

Find out why no one knows more than we do.

Finding The Right Short Sale Agent

Finding The Right Agent

Even though the short sale is a fairly common occuring process but still there are a very few professionals in the market that know how to properly deal with the process. There should be as less surprises as possible. We have a Nationwide spread team of professionals to serve you if you have not yet figured out 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!

To get your property listed, you have to work with an agent so that it gets a fair review so the lender will expect that you do this. Just bring up an offer to will not be allowed. Some Documents such as the MLS Listing and MLS History may have to be submitted to prove that the property was properly listed. You can not take your process of short sale any further untill you have completed this process and the first of the documents that you will need for the process to go forward will be the listing agreement.

Pro Tip: Many lenders will require you to list for a minimum of 5 days and a weekend before accepting an offer.

NOTE: In some cases Shellpoint may prequalify you for the short sale. They may even tell you to how much to list the home as. 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 Shellpoint Mortgage Short Sale is more than just a number!

Real Estate Short Sale Definition

What is a short sale?

According to real estate a sale for which the offered amount is not enough to pay off all the debts which have been taken against the property. Unless you have got an offer it is impossible for the lender to review your application. 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. Past due taxes, non-recurring closing costs, attorney fees, settlement fees, title fees, and anything else that may apply are all included in it.

Best Short Sale Buyer

Find The Right Buyer For Your Short Sale

Strong Short Sale Buyers

Patience is the most important quality for a potential buyer. A buyer who knows how to wait is better than both all cash buyer and the buyer whose offer is more than others. To make sure the offer is solid the broker will need to interview the candidates. Broker representing is as important as the buyer.

Previously Approved Short Sales

Previously Approved Shellpoint Short Sale

Some brokers have been seen advertising to the consumers that their short sale was previously approved by Shellpoint Mortgage. This is misleading. Even if all the terms were previously met and the short sale was approved still they will need to completely review once you have an offer.

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 Shellpoint Mortgage Short Sale Package

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

Shellpoint Mortgage Short Sale Submittal

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

What is in the Shellpoint Mortgage Short Sale Package?

Generally all the lenders have similar document requirement and Shellpoint Mortgage is one of them. Following is the list of documents usually 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 it will be a requirement from you to submit 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: Shellpoint Mortgage Short Sale Broker's Price Opinion (BPO) or Appraisal

 

Shellpoint Short Sale Value

Getting The Right Value Goes A Long Way.

The lender will want to know whether you are eligible for a short sale or not and the only way they can do that is by getting a Broker’s Price Opinion (BPO). In most of the cases an agent completes a valuation. The properties which are similar to the property in question are compared by the broker. He/she will compare properties that are currently listed or were sold in previous 3 to 6 months. Many conditions like home’s perceived condition, the size of the living space, the size of the lot, how many stories it has and whether or not it has a pool are considered by the agent. Market conditions and how fast homes are selling in the area are taken into consideration. There are many factors that are taken into consideration.

Shellpoint 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. In some cases the lender would want a deeper review so in that case the lender will obtain an appraisal. Appraisers have specific licenses 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.

Shellpoint Mortgage Value Disputes and Variances

Filing Value Disputes and Variances

Sometimes the value returns too high, Then what happens? This can happen to both the rookies and the experts.. Sometimes it does not matter that how much you meet regularly with the broker or appraiser and provide them data that they use in their report it just so happens that sometimes they are not from the area and compare properties that have nothing in common.

Pro Tip: Short Sale Variance is an opportunity to apply for a short sale servicer such as Chase 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 An Shellpoint Short Sale Take

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

At this time the undersigned will have to make a decision whether to proceed you application further and to present it to the lender or not. Usually an auditing process occurs before presenting the file to the management and then there is a another before issuing the approval letter.

Shellpoint Short Sale Counters

Shellpoint Mortgage Counters Short Sale

Unfortunately, We know its tough time for you at Shellpoint management may counter or altogether reject your short sale application. To compete with either of these situations one needs a special set of skills that can only come from experience. Easy tasks can be done by anyone but it is the difficult tasks that are hard and separate the experts and rookies.

Step 6: Closing A Short Sale

 

Short Sale Escrow

Short Sale Escrow.

Short sale closure is very much similar to the closure of traditional or typical escrow. The typical escrow process will start after all the debt holders have given their approval. To insure that all the interest holders in the property have been properly addressed title search mus have been issued by now.

Short Sale Extensions

Chase Issues Short Sale Extension

What happens if the approval letter expires and we are not able to complete the short sale process? This is a question we get all the time and there isn’t a simple answer to it. It depends on delinquency of the mortgage, whether the value they had 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 Shellpoint’s Management. Results may vary greatly but the best part of our services is we only get paid if the transaction successfully closes (we are generally paid from the real estate commissions awarded to the agents involved and paid out of Shellpoint’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 is a professional company that can work with the local broker to get your property sold quickly. Shellpoint Mortgage will pay us directly from the escrow closing account. We get nothing if the transaction fails to close. Usually we get compensated from the amount that is awarded to the brokers involved in the deal. Usually the seller doesn’t has to spend a single penny for this service. Call for details 888-934-3444.

Understanding The Shellpoint Short Sale Status

You may have already taken a look at the package and noticed that it is a fairly difficult and long package. Shellpoint Mortgage have done nothing so that the  consumer feels easier but ACG is here to assist you with your application for the short sale process to get mortgage assistance from your servicer.

Assistance For Shellpoint Mortgage In America

We will become the only point of contact for all the challenges related to Shellpoint Mortgage if you work with us. ACG will act as a one stop shop for all your mortgage relief services. We will work with you from start to finish to complete your short sale process with Shellpoint Mortgage.

Call Us 888-934-3444 Today.

Shellpoint Short Sale Package Breakdown

When you ask that what is Shellpoint Mortgage Package? The first requirement that you will be required to fulfill is that you will have to submit a package called Shellpoint Request for Mortgage Assistance (RMA). The most important thing to take care while applying is to always use the most updated paperwork; It will be better if you consult with a professional first. We have put up the latest paperwork that we found on the Absolute Consultant Group (ACG).  ACG helps homeowners with their Shellpoint Loan Modification and Shellpoint Short Sale process. There are 5 Sections to the standard Shellpoint Short Sale Package.

Need Assistance With An Shellpoint Mortgage?

 

Need Assistance With An Shellpoint Mortgage?

 

Short Sale RMA Package PDF Breakdown:

Hardship Affidavit Application Check List

  1. Borrower Information This section will require the consumer to fill out all the personal details of the borrower and co-borrower.
  2. Property Information This section will require that you fill out all the details of about property address, You have to explain current property status, listed for sale or not etc.
  3. Borrower Income In this section you will be required to put the monthly income details salary and other sources of income.
  4. Hardship Information This section has hardship options from which you will need to tick out the correct ones showing the reasons for your hardships.
  5. Borrower Certification and Agreement In this section you have certify, acknowledge, and agree that all information in this Borrower Assistance Form is truthful and the hardship that I have identified contributed to my need for mortgage relief.

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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.