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Home Point Financial Short Sale Application, Forms And Packages
Short Sale Package PDF
Other Mortgage Programs
Get Home Point Financial Forms
Other Mortgage Programs
Are You Still Dealing With Home Point Financial By Yourself?!
?Are You Still Dealing With Home Point Financial By Yourself?!?
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Step 1: Home Point Financial Short Sale Experts
Finding The Right Short Sale Agent
Finding The Right Agent
Short sale may seems to be a very common process but still a very few professionals know how to properly deal with the short sale procedure thatswhy it is very most important thing that you find the right professional to deal with the short sale. 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!
Another important things you will have to do to get started with your short sale process is to get your property listed for sale. You will have to do this while working with a lender to get a fair review about your property. Just bringing an offer to the lender will not be allowed. Documents such as the MLS Listing and MLS History will be demanded as a proof to ensure that a property has been properly listed. You have completed this process inorder to move forward to the next step and the First of the documents that you will need for the process to go forward will be the listing agreement.
Step 2: The Short Sale Offer
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 liens taken against the property is called a short sale. It will be impossible for Home Point Financial to review your application unless you have an offer. They will need to check that once all the closing costs have been deducted from the amount what will be the net amount that you will be making them. 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 best quality a buyer could have. A potential buyer who knows how to wait is always better than all cash buyer and even the buyer whose offer is better. Candidates are required to interview in order to make sure that offer is solid. Broker is as important as the buyer.
Previously Approved Short Sales
Previously Approved Home Point Financial Short Sale
Some brokers mislead by advertising that their short sale was previously approved by Home Point Financial. They will need to make a full review of application even if Home Point Financialhad previously approved their short sale and all the terms were met still .
Step 3: Submit Home Point Financial Short Sale Package
Home Point Financial Short Sale Submittal
Submiting Your Short Sale Package to Home Point Financial To Get The Process Going.
What is in the Home Point Financial Short Sale Package?
Usually it is required to all the lenders to have same kind of documents and Home Point Financial is also included in those. Following is the list of documents which are usually asked for: 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 and that’s only the start. As a short sale seller it will be required 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.
Step 4: Home Point Financial Short Sale Broker's Price Opinion (BPO) or Appraisal
Home Point Financial Short Sale Value
Getting The Right Value Goes A Long Way.
We can qualify you for short sale by one way and that is by completing a value. An agent compares similar properties which are either currently listed or have been sold within 3 to 6 months in order to complete a value. He has to consider many conditions like the size of the living space,home’s perceived condition, 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 also taken into count. Many other factors are also considered.
Home Point Financial Short Sale Appraisal
Short Sale Appraisal Values
Home Point Financial is always supported by a lender and that lender is already facing a loss so the lender will want to complete a Broker’s Price Opinion (BPO). Lender will obtain an appraisal If he requires a deeper insight . 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.
Home Point Financial Value Disputes and Variances
Filing Value Disputes and Variances
A value returning too high is something that happens very often and to both the experts and rookies alike. Sometimes a broker makes a mistake by comparing properties which have nothing in common because he/she is not from the area.
Step 5: Finalize Short Sale Terms
How Long Does Home Point Financial Short Sale Take
Home Point Financial’s Short Sale Time Line Coming To An End.
At that time undersigned will have to decide whether you meet the requirement for the short sale or not and whether to proceed your file to the management. Before presenting the file to the management, auditing process occurs and then there is an another process before issuing the approval letter.
Home Point Financial Short Sale Counters
Home Point Financial Counters Short Sale
At that time Home Point Financial may give a counter to your short sale or may completely reject it. There is a need for a special set of skills that come only by experience to compete with either of these situations. Anyone can do easy tasks but it is the difficult tasks that are hard and
Step 6: Closing A Short Sale
Short Sale Escrow
Short Sale Escrow.
If you know closing typical escrow processes, closing of short sale process is very similar to it.You can move forward with the typical escrow process, once all debt holders have given their approval. A title search should now have been completed to assure that all the parties affiliated with the property have been addressed.
Short Sale Extensions
Home Point Financial 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 this question. It depends on deliquency of the mortgage, whether the value they had expired, and many other details. Consult one of our experts if you need more time to see what we are able to get approved with Home Point Financial’s Management. We only get paid if the transaction successfully closes, results may vary(we are generally paid from the real estate comissions awarded to the agents involved and paid out of Home Point Financial’s net).
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How Does ACG Get Paid?
Absolute Consultant Group (ACG) has a team of professionals ready to work with the local broker to get your property sold in time . If the transaction closes successfully then we will get our payment directly from Home Point Financial from the escrow closing account but if the transaction fails to close we will not get our payment. Usually the amount paid to us comes from the amount that is awarded to the brokers involved in the deal. Usually the seller will have to spend nothing for this service. Call for details 888-934-3444.
Understanding The Home Point Financial Short Sale Status
The Home Point Financial Short sale package consists of a fairly lengthy document and difficult to complete. Home Point Financial have not be able to do anything yet to make the short sale process easy for its consumers 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 Home Point Financial
For all challenges related to Home Point Financial you will have to contact ACG. For all of your mortgage relief services we will be a one stop shop. From start to finish we will work with you through the whole short sale process.
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Home Point Financial Short Sale Package Breakdown
What is the Home Point Financial Short Sale Package? When you are applying for a short sale with Home Point Financial a package called Home Point Financial Request for Mortgage Assistance (RMA) is the first thing they will require of you. Always use he most recent paperwork while applying; It will be always better if you check with a professional first. Absolute Consultant Group(ACG) Website always has the most recent paperwork. ACG helps homeowners with their Home Point Financial Loan Modification and Short Sale process. There are 6 Sections to the standard Home Point Financial Short Sale Package.
Need Assistance With A Home Point Financial?
Need Assistance With A Home Point Financial?
Short Sale RMA Package PDF Breakdown:
Hardship Affidavit Application Check List
- Borrower Information In this section you have to put all the details of the borrower and Co Borrower (if any).
- Hardship Statement You have to explain the hardsship faced by you in this section
- Expense foe household In this section you are required to put all details realted to household assets.
- Information for Government monitoring purposes In this section you are encouraged to fill out the information like ethnicity and race of borrower and co-borrower.
- DODD-FRANK Certification In this section you will have to certify to a certain things like you have not committed any felonies like theft money laundering, tax evasions etc
- Acknowledgement and Agreement In this section you have to certify that all of the information in RMA 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.