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Regions 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 Region 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.

Are You Still Dealing With Regions Mortgage By Yourself?!

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

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

Step 1: Regions Mortgage Short Sale Experts

Find out why no one knows more than we do.

Finding The Right Short Sale Agent

Finding The Right Agent

It is most important that you find the right kind of professional to deal with your short sale because there are very few professionals who know waht they are doing even though short sale is a common process. The surprises should be kept to a minimum. If you can’t figure out where to turn to, we have got a great team of professionals nationwide to assist you. 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!

Getting your property listed is also an important step but for this you have to work with a broker so that the property gets reviewed fairly. 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 that a property has been properly listed. Until this process has been completed you can not proceed further 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: There are situations where Regions Mortgage may prequalify you to do a 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 Regions Mortgage Short Sale is more than just a number!

Real Estate Short Sale Definition

What is a short sale?

The type of sale for which the offer is less than the total debt taken against the property is called as a short sale. Your application cannot be reviewed unless you have an offer no matter which lender is servicing you. From the offer the lender also wants to calculate the net amount that you will make them in the end after deducting the closing costs. The closing costs include Past due taxes, 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 best quality a potential buyer can have. A buyer willing to wait will be better in the long run when compared to an all cash buyer or even whose offer is more. To make sure the offer is solid the broker will need to interview the candidates. Only the buyer is not importnat but the broker representing is also very important.

Previously Approved Short Sales

Previously Approved Regions Mortgage Short Sale

Some brokers mislead the consumers by saying that their previous short sale with Regions Mortgage was approved. Even if they had previously approved it they will still need to make a full review of it.

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 Regions Mortgage Short Sale Package

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

Regions Mortgage Short Sale Submittal

Submitting Your Short Sale Package to Regions Mortgage To Get The Process Going.

What is in the Regions Mortgage Short Sale Package?

Usually all the lenders require the same kind of documents which includes Regions Mortgage. 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. 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: Regions Mortgage Short Sale Broker's Price Opinion (BPO) or Appraisal

 

Regions Mortgage Short Sale Value

Getting The Right Value Goes A Long Way.

It can only be confirmed whether you qualify for a short sale or not after completing a valuation. Valuation is usually done by a broker who compares properties in the same area which are either listed or have been sold within 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.

Regions Mortgage Short Sale Appraisal

Short Sale Appraisal Values

Regions Mortgage as its name suggests is only a mortgage servicer who is always representing the interest of an investor who is already facing a loss so they will want to complete a value. An appraisal is taken in case when the investor 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.

Regions Mortgage Disputes and Variances

Filing Value Disputes and Variances

Sometimes a value returns too high, then what? This is a common occurance and can happen to both rookies and experts. Sometimes the broker is not from the same neighbourhood as the properties so they make a mistake 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 Regions 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 A Regions Mortgage Short Sale Take

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

This is the time when the undersigned will decide the fate of your short sale application as to whether approve it and present it to management 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.

Regions Mortgage Short Sale Counters

Regions Mortgage Counters Short Sale

This time can prove itself to be a tough time as at this time Regions Mortgage may decide to make a counter to your application or to altogether reject it. Specials skills gain-able only from experience are required to compete with either of these challenges. 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.

A short sale escrow is closed in a similar way as to the typical escrow. Once all the bedt holders have given clearance you can go ahead with the typical escrow process. A title search should now have been completed to assure that all the parties affiliated with the property have been addressed.

Short Sale Extensions

Regions Mortgage 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 Regions 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 generally paid from the real estate commissions awarded to the agents involved and paid out of Regions Mortgage’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 has a great team of professionals ready to work with the local broker to get the property sold on time. We are paid our fees directly by Regions Mortgage from the escrow closing account. If the transaction fails to close we will not get our fees. Some amount is paid to the brokers invoved in the deal as fees for their services we also get our income from that amount. Usually the seller will have to spend nothing for this service. Call for details 888-934-3444.

Understanding The Regions Mortgage Short Sale Status

If you have seen the package uploaded on our website you will have noticed that is is not an easy document and Regions Mortgage have not done anything to imply that they want to make the process simpler for their 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 For Regions Mortgage In America

If you need any type of help with Regions Mortgage related challenge Absolute Consultant Group (ACG) is here to help you with it. We can become your one stop shop for all the mortgage relief services. We will work with you through the whole short sale process from start to finish.

Call Us 888-934-3444 Today.

Regions Mortgage Short Sale Package Breakdown

If you need to know what is Regions Mortgage short sale package? A package called Regions Mortgage Request for Mortgage Assistance (RMA) will be the first requirement from the consumers applying for mortgage relief with Regions Mortgage. You should always confirm that the package you are submitting is the latest one; Before submiting 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 Regions Mortgage Loan Modification and Short Sale process.

There are 8 Sections to the standard Regions Short Sale Package.

Need Assistance With A Regions Mortgage?

 

Need Assistance With A Regions Mortgage?

 

Short Sale RMA Package PDF Breakdown:

Hardship Affidavit Application Check List

  1. Borrower Information This section requires the complete information of the borrower and co-borrower. This section will also ask whether your property is listed for sale etc.
  2. Hardship Affidavit This section has hardship options from which you will need to tick out the correct ones showing the reasons for your hardships.
  3. Principal Residence Information You will put all to answer few questions about mortgage assistance,homeowner association etc.
  4. Income and Expenses You will put all the details about the total income of the borrower /co-borrower and details of the monthly expenses.
  5. Other Properties Owned This section contains will require you to answer questions about other properties, address and insurance paid etc.
  6. Other Property for which assistance is requested Only complete this section if you are requesting mortgage assistance on a property that is not your principal residence.
  7. Rental Property Certification This section requires your signature authorizing that everything you have stated is true etc.
  8. 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

Regions Mortgage 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.

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