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Freedom Mortgage Short Sale Application, Forms And Packages
Are You Still Dealing With Freedom Mortgage By Yourself?!
?Are You Still Dealing With Freedom Mortgage By Yourself?!?
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Step 1:Freedom Mortgage Short Sale Experts
Finding The Right Short Sale Agent
Finding The Right Agent
There are a very few professionals in the market that properly know how to deal with the short sale process although a short sale is a process that occurs pretty commonly. This is why it is extremely important that you find the right professional for the job. If you don’t know what to do next 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!
To keep the process running smoothly you will also have to get your property listed for sale by working with an agent so the property gets a fair review. You will not be allowed to just take an offer to the lender. 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 must have completed this process successfully then you can move forward with the process. The first document required to get your short sale going is the listing Agreement.
Step 2: The Short Sale Offer
Real Estate Short Sale Definition
What is a short sale?
Such a sale in which the offered amount for a property is not enough to clear off all the debt on it is called as a short sale. No lender can review your application until you have an offer on the property. From the
Best Short Sale Buyer
Find The Right Buyer For Your Short Sale
Strong Short Sale Buyers
The most important quality of a buyer is their willingness to wait. A willing to
Previously Approved Short Sales
Previously Approved Freedom Mortgage Short Sale
Sometimes in order to mislead the customer the brokers advertise that their short sale was approved by Freedom Mortgage previously. Even if they had previously approved the short sale and all the terms were met they will still need to make a full review.
Step 3: Submit Freedom Mortgage Short Sale Package
Freedom Mortgage Short Sale Submittal
Submiting Your Short Sale Package to Freedom Mortgage To Get The Process Going.
What is in the Freedom Mortgage Short Sale Package?
Mostly the documents required are same for every lender. 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.
Step 4: Freedom Mortgage Short Sale Broker's Price Opinion (BPO) or Appraisal
Freedom Mortgage 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. They consider the homes 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. They will also consider market conditions and how fast homes are selling in the area. There are many factors they take into consideration.
Freedom Mortgage Short Sale Appraisal
Short Sale Appraisal Values
The investor whom Freedom Mortgage is representing is already facing a loss so they will need to make a valuation. 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.
Freedom Mortgage Value Disputes and Variances
Filing Value Disputes and Variances
Sometimes it does not matter how hard you try the value still returns high and this can happen to both experts and rookies alike. This may happen due to the fact that sometimes the agent is not from the area and compares non comparable properties.
Step 5: Finalize Short Sale Terms
How Long Does A Freedom Mortgage Short Sale Take
Freedom Mortgage’s Short Sale Time Line Coming To An End.
This is the decision making time for the undersigned as to whether continue your short sale or not and present your file to the investor. 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.
Freedom Mortgage Short Sale Counters
Freedom Mortgage Counters Short Sale
This time can also be a time when the undersigned or lender desides to make a counter to your application or either reject it completely. To counter with either of these situations one needs a very special set of skills that can only be achieved from 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.
A short sale escrow is very much similar to the 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
Freedom Mortgage Issues Short Sale Extension
What if the approval letter expires and we have not been able to complete the short sale process? We get this question all the time 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 Freedom Mortgage’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 gernerally paid from the real estate comissions awarded to the agents involved and paid out of Freedom Mortgage’s net).
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How Does ACG Get Paid?
We have a great team of professionals ready to work with the local agent to get your property sold in time. The lender like Freedom Mortgage pays us directly for our services from the escrow closing account. If the process fails to close in the end we will get nothing. Usually this service will cost the seller nothing out of their pocket as we get our payment from the amount that is paid to the brokers involved in the deal. Call for details 888-934-3444.
Understanding The Freedom Mortgage Short Sale Status
The Freedom Mortgage short sale package is not an easy document. Freedom Mortgage are not interested in doing even a little to make this process simple for the consumers but you have nothing to worry about as ACG is here to assist you with your application for the short sale process to get mortgage assistance from your servicer. Assistance For Freedom Mortgage We can provide you with a solution for all your challenges with Freedom Mortgage. We can become your one stop shop for all the Mortgage relief Services related to Freedom Mortgage and we can work with you from start to finish to complete your short sale process.
Call Us 888-934-3444 Today.
Freedom Mortgage Short Sale Package Breakdown
What is Freedom Mortgage Short Sale Package?
When applying for a short sale with Freedom Mortgage the first thing required is a package called request for Mortgage Assistance (RMA). It is very important that you check that the package you are submiting is the latest one; It is always better 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 Freedom Short Sale and Freedom Loan Modification process.
There are 2 Sections to the standard Freedom Mortgage Request for Mortgage Assistance (RMA).
Need Assistance With A Freedom Mortgage?
Need Assistance With A Freedom Mortgage?
Short Sale RMA Package PDF Breakdown:
Hardship Affidavit Application Check List
- Borrower Financial report This section covers all the personal details and the income and expenses details of the borrower and the co-borrower.
- Profit and Loass Statement You have to attach the profit and loss staatement for your business showing all the profits and losses your business faced. There is a sample included in the form which you can use if you have not prepared the statement.
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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.