Information Disclaimer: Not Your Loan Servicer (Read More)
**We are not affiliated with any mortgage servicer, the investor/beneficiary of your mortgage note, the mortgage insurer (if applicable) or any government agency. We are a homeowner advocacy group with more than a decade of helping homeowners and professionals with mortgage assistance negotiations. The information found on this page is for educational and convenience purposes only. The information found on this page should be considered as opinion and not fact based on our experience with lenders over 10+ years. Consult your mortgage servicer directly or a professional before using any of the information found on this site. If you are seeking an intermediary to assist you in getting help with your mortgage you may contact us at 888-934-3444 or via email at [email protected] for further review for a no fee, no obligation, consultation. If required you may be referred to a local professional or legal counsel for additional assistance with your mortgage. Please read through our Disclaimer page for additional details. We do not represent in any way any financial institution named on this page. If you feel that any of this information has become outdated or is incorrect please contact us immediately.**
Quicken Loans Short Sale Application, Forms And Packages
Are You Still Dealing With Quicken Loans By Yourself?!
?Are You Still Dealing With Quicken Loans By Yourself?!?
Limited Time Offer Coupon!
Limited Time Offer Coupon!
Step 1:Quicken Loans Short Sale Experts
Finding The Right Short Sale Agent
Finding The Right Agent
Dealing with short sale is a very important process. There are very few professionals in the market that properly know how deal with it. That is why, it is most important thing is that you find the right professional to deal with the short sale. If you don’t know where to turn to 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!
You will also have to work with a broker to get your property listed so that the property gets a fair review. It will not be allowed to you to just bring up an offer. 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 shot sale going is the listing Agreement.
Step 2: The Short Sale Offer
Real Estate Short Sale Definition
What is a short sale?
In real estate, a sale will be called a short sale when the debted amount on the property is more than the amount offered for the property. Unless you have an offer for the property a lender like Quicken Loans cannot review your application. The lender also wants to see that what would be the net amount that you will make them in the end after the closing costs have been deducted. 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 the most important quality buyers should have. The best buyer will be the one who knows how to wait, a buyer who knows how to wait will always be better as compared to an all cash buyer or even whose offer is more than the others. Your broker needs to interview the potential buyers to make sure they are a good fit. The broker representing the buyer is as important as the buyer.
Previously Approved Short Sales
Previously Approved Quicken Loans Short Sale
It has been seen that some brokers advertise that their previous short sale was approved by Quicken Loans.It is misleading and 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 Quicken Loans Short Sale Package
Quicken Loans Short Sale Submittal
Submitting Your Short Sale Package to Quicken Loans To Get The Process Going.
What is in the Quicken Loans 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: Quicken Loans Short Sale Broker's Price Opinion (BPO) or Appraisal
Quicken Loans 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.
Quicken Loans Short Sale Appraisal
Short Sale Appraisal Values
Quicken Loans 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). If an investor wants a deeper review they will get an appraisal which is done by an appraiser. For valuing properties, Appraisers have specific licenses. Some investors such as Fannie Mae (FNMA) complete two appraisals. The type of value completed varies from lender to lender and investor to investor.
Quicken Loans Value Disputes and Variances
Filing Value Disputes and Variances
There is time when value returns too high and this happens to both the rookies and the professionals alike. Sometimes it does not matter that how much you meet regularly with the broker and provide them data, it just so happens that sometimes they are not from the area and compare properties that have nothing in common.
Step 5: Finalize Short Sale Terms
How Long Does A Quicken Loans Short Sale Take
Quicken Loans’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. 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.
Quicken Loans Short Sale Counters
Quicken Loans 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
Quicken Loans 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 Quicken Loans 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 Quicken Loans’s net).
We've Been Dealing With Quicken Loans For Over A Decade!
?Don't Get Lost In Quicken Loans's Web!?
How Does ACG Get Paid?
Want to get your property sold on time Absolute Consultant Group (ACG) has a team of professionals. The company gets its income directly from the Quicken Loans from the escrow closing account. We will not get our income if the transaction does not close. We generally get our payment from the amount that is paid to the brokers involved in the deal. This service generally costs the seller nothing out of pocket. Call for details 888-934-3444.
Understanding The Quicken Loans Short Sale Status
By now you have noticed that it is a fairly long process and not easy to complete. Quicken Loans has not made this process simpler and do not intends take any step to make it simpler for the consumers yet but don’t worry that is why ACG is here to offer you to assist with your application for the short sale process to get mortgage assistance from your servicer. Assistance For Quicken Loans
Absolute Consultant group can help you in all your Quicken Loans related challenges. If you work with us we will become your one stop shop for all your mortgage relief services and we will work with you to complete your short sale from start to finish.
Call Us 888-934-3444 Today.
Quicken Loans Short Sale Package Breakdown
To Answer what is Quicken Loans Mortgage Package?
When you apply for a mortgage assistance with Quicken Loans the first requirement they will need from you is a package called Quicken Loans for Mortgage Assistance (RMA). You should always take care that the package you are submitting is the latest; 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 Quicken Loans Short Sale and Quicken Loans Modification process.
There are 5 Sections to the standard Quicken Loans Request for Mortgage Assistance (RMA).
Need Assistance With A Quicken Loans?
Need Assistance With A Quicken Loans?
Short Sale RMA Package PDF Breakdown:
Hardship Affidavit Application Check List
- Borrower Information This section will require the consumer to fill out all the personal details of the borrower and co-borrower.
- 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.
- Borrower Income In this section you will be required to put the monthly income details salary and other sources of income.
- Hardship Information This section has hardship options from which you will need to tick out the correct ones showing the reasons for your hardships.
- 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.
Quicken Loans is Difficult. Don't Go It Alone. Professionals Standing By.
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.