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America’s Servicing Company Short Sale Application, Forms And Packages
Are You Still Dealing With America's Servicing Company By Yourself?!
?Are You Still Dealing With America's Servicing Company By Yourself?!?
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Step 1: America's Servicing Company (ASC) Short Sale Experts
Finding The Right Short Sale Agent
Finding The Right Agent
Finding the right short sale professional will go a long way because although short sale is a fairly commonly occuring process but still a very few professionals are proper experts in dealing with it. There should be a very few surprises if any. We have got a large team of short sale experts Nationwide if you have not been able to figure 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!
The other most important step for starting of the short sale process is getting you property listed. The property will get a fair review when you work with a local lender so the lender will always expect this. America’s Servicing Company (ASC) will never allow that you just bring an offer to them. Documents such as the MLS Listing and MLS History will be required from you as a proof that a property has been properly listed.
As long as you do not complete this step you will not be allowed to move forward with the process and usually the first document that you will need to submit will be the listing agreement.
Step 2: The Short Sale Offer
Real Estate Short Sale Definition
What is a short sale?
In real estate a short sale is a type of sale in which the offered amount is not enough to pay off all the debts against the property. Unless you have an offer it will not be possible for America’s Servicing Company (ASC) to review your application. They will also need to see that what is the net amount that you are making them after all the short sale closing costs have ben deducted from it. 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 of a potential buyer, meaning that a buyer should be ready to wait. A patient buyer is always better than an all cash buyer and even the buyer whose offer is more than the others. Your broker will need to interview the potential buyers to make sure that they are solid. Only the buyer is not important but the broker representing is also very important.
Previously Approved Short Sales
Previously Approved America’s Servicing Company Short Sale
Some brokers will be seen advertising that their previous short sale application was previously approved by America’s Servicing Comapny (ASC). This is to mislead you. Even if ASC had approved their short sale in most of the cases a full review will still be required.
Step 3: Submit America's Servicing Company (ASC) Mortgage Short Sale Package
America's Servicing Company (ASC) Short Sale Submittal
Submiting Your Short Sale Package to America’s Servicing Company To Get The Process Going.
What is in the America’s Servicing Company Short Sale Package?
Generally all the lenders require the same documents which include America’s Servicing Company (ASC). The documents which will be required include: 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 you are a short sale seller so it will be required of that 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.
Step 4: America's Servicing Company (ASC) Short Sale Broker's Price Opinion (BPO) or Appraisal
ASC Short Sale Value
Getting The Right Value Goes A Long Way.
The only way that a lender like ASC (America’s Servicing Company) can know whether you are eligible for the short sale or not is by completing a value. In most of the cases A broker does a value mostly by comparing comparable properties in the area. The properties currently listed in the area and more importantly the properties that have been sold within last 3 to 6 months are compared. Many conditions are considered while reviewing which include 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.
Market conditions and how fast homes are selling in the area are taken into consideration. There are many factors that are taken into consideration.
ASC Short Sale Appraisal
Short Sale Appraisal Values
America’s Servicing Company (ASC) is usually representing an investor which is already taking a loss so the investor will like to get a price opinion called Broker’s Price Opinion (BPO). But for the cases the investor likes to get a deeper review they may consider 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.
ASC Value Disputes and Variances
Filing Value Disputes and Variances
What if the value returns too high? This happens to both the experts and rookies. Sometimes it does not matter how hard you try and meet regularly with the appraiser or broker and help them and give them data that they will use in their report but often they are not from that 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 America’s Servicing 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 ASC Short Sale Take
America’s Servicing Company Short Sale Time Line Coming To An End.
The undersigned or the administration will decide whether to present you case to the investor or not once they have received the values and complete package. Usually an auditting process occurs before presenting the file to the management and then there is another audit before issuing the approval letter
ASC Short Sale Counters
America’s Servicing Company Counters Short Sale
Sadly this is also the time when ASC may issue a counter to you proposal or even reject it. One needs a special set of skill acquired by experience only to compete with the both conditions. Easy tasks can be done by anyone but it is the difficult tasks that are hard and seperate the experts and rookies.
Step 6: Closing A Short Sale
Short Sale Escrow
Short Sale Escrow.
Escrow process of short sale is much similar to the traditional escrow process. It is possible to move through the escrow once all debt holders have given their approval. By Now a title search should have been issued to assure that all parties affiliated with the property have been dealt with.
Short Sale Extensions
ASC Issues Short Sale Extension
One question that we get all the time is that what happens if the approval letter that has been issued expires and we were not able to complete the short sale process in the time frame. Honestly, there is not a simple answer to it. 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 ASC’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 comissions awarded to the agents involved and paid out of ASC’s net).
We've Been Dealing With America's Servicing Company For Over A Decade!
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How Does ACG Get Paid?
ACG (Absolute Consultant Group) has a long experience in working with the local agent to get the property sold. We will get our income directly from America‘s Servicing Company from the Escrow Closing account. We get paid nothing if your transaction does not closes. The brokers involved in the deal receive an income for their services and we also get our income from that amount. Generally this service doesn’t costs a penny to the consumer. Call for details 888-934-3444.
Understanding The America‘s Servicing Short Sale Status
You may have already noticed by looking at the ASC Mortgage Assistance Application (MAPP) that it is a relatively a long document. America’s Servicing has not done anything yet to make this process simpler for the consumer but that’s why ACG is here to assist you with your application for the short sale process to get mortgage assistance from your servicer.
Assistance For America‘s Servicing Company (ASC) In America
We can become your single point of contact for all the ASC related challenges if you work with us. We will become a one stop shop for all you mortgage relief services when you work with us. We will work with you through all the process from start to finish to complete your short sale with America‘s Servicing Company (ASC).
Call Us 888-934-3444 Today.
America‘s Servicing Company (ASC) Short Sale Package Breakdown
What is the America‘s Servicing Company Short Sale Package?
As America‘s Servicing Company works as a department of ASC so they use the same paperwork as ASC called Mortgage Assistance Application. When applying you should take care fo using the latest paperwork; Always check with a professional. The paperwork we last found was put up on the Absolute Consultant Group(ACG) Website. ACG helps homeowners with their America‘s Servicing Company Loan Modification and Short Sale process.
There are 11 Sections to the standard America‘s Servicing Company Package. Having a total of 11 pages
Need Assistance With A America's Servicing Company (ASC) Mortgage?
Need Assistance With America's Servicing Company (ASC) Mortgage?
Short Sale MAAPP Package PDF Breakdown:
Hardship Affidavit Application Check List
- Page 1 – About You On this page ASC really covers the basic information about the borrower and the co-borrower. It covers the contact information for each, their social security information, along with making sure to gather the mailing address for each.
- Page 2- About Your Property There is a disclosure that covers SCRA (Soldiers and Sailors Act) information but this page is really about ASC covering what they need to know about the property. The home attached to your mortgage loan needs to be qualified by various factors. They want to know your residence status and if it’s a rental modification you are applying for. ASC also has models they use based on the number of residents in the home to establish reasonable monthly budgets. Afso they need to know if your intent is to keep or sell the home. Lastly, they ask you what property it is you are asking for assistance with and if the insurance is up to date.
- Page 3- About Your Mortgage Loan It seems odd but this section the use to ask you questions that it seems like ASC would know like are your taxes escrowed or is your home insurance included with your payment. The one question they ask that they wouldn’t know is if you have a homeowners association or other types of dues.
- Page 4 – About Your Property Title This is where your ASC mortgage asks about additional liens and judgments. They cover if there are second mortgages and how to contact and of these lien holders.
- Page 5 – Listing Status and Employment Information ASC considers all mortgage solutions through their “One Decision” policy so they take into consideration whether you are actively markeing the property for sale, with whom you have the home listed and if you’ve received an offers. They also cover in a very simple way the employment history and whether either of the borrowers are currently unemployeed. No matter what the situation ASC Mortgage is always trying to establish when things started.
- Page 6 Financial Information (Income) ASC Loan Borrower Financial Information assistance package asks for your monthly budget. ASC wants to cover all the basics so they ask, for one, about your gross/net income. You need to inlude all sources of income including non-borrower contributors in the budget. You must also inform them of any assets that you have. This includes but is not limited to, bank checking accounts, and anything else you have of value.
- Page 7 – Financial Information (Expenses) In this area you have to make sure you cover everything that is part of your monthly expenses spanning from food to utilities to child costs.
- Page 8 – Hardship Affidavit ASC always looks for the reason you are defaulting. They look to see that issue has been resolved because otherwise they won’t be able to set you up on a sustainable plan and reach affordability. This section covers somewhat what a hardship letter covers such as the date the hardship occured and additional details surrounding the situation.
- Page 9 – Wells Fargo Hardship Affidavit Continued This page is a series of boxes that cover different types of hardship so you only have to fill out what applies to you.
- Page 10 – Assistance To Date ASC like most lenders must assure they did everything they could to help mitigate losses so they ask you if you’ve previously received assistance, whether or not you filed bankruptcy and if you’ve been speaking to credit counseling agencies what their name and number is.
- Page 11 – Government Use This last section doesn’t really require the borrower to do too much but to fill out some basic census type information.
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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.