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RoundPoint Mortgage Short Sale Application, Forms And Packages
Are You Still Dealing With RoundPoint Mortgage By Yourself?!
?Are You Still Dealing With RoundPoint Mortgage By Yourself?!?
Limited Time Offer Coupon!
Limited Time Offer Coupon!
Step 1: RoundPoint Mortgage Short Sale Experts
Finding The Right Short Sale Agent
Finding The Right Agent
It is very important step very important as you are going to select the right professional for your short sale process. Although the short sale is a common occuring process but still there are a very few professionals in the market that can properly deal with the situation. We have a great team of professionals nationwide if it is still doubtful for you 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 next important thing you will have to do is get your property listed by working with an agent so that your property gets a fair review. Lender will not allow you to just take an offer to them. 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 can not proceed to next step until you have completed this step properly and the Listing Agreement will be amongst the first of the documents required to get your short sale going.
Step 2: The Short Sale Offer
Real Estate Short Sale Definition
What is a short sale?
When the offered amount for a property is not enough to pay off all the debts taken against the property then such a sale is called as a short sale. You should have an offer for the property otherwise lender will not be in position to review your application . The lender will take an interest in what is the net amount that you will make them in the end once all the closing costs have been deducted from it. 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 most important quality as a buyer. A potential buyer willing to wait is better than all cash buyer or even the buyer whose offer is more than others. Your broker is required to interview the potential buyers to make sure they are a good fit. Broker representing the buyer is as important as the buyer
Previously Approved Short Sales
Previously Approved Bay view Short Sale
It has been often been seen advertised by agents that their previous short sale with RoundPoint Mortgage was approved successfully but this is to mislead. Even if previously all the terms were met and approved still they will need to make a full review.
Step 3: Submit RoundPoint Mortgage Short Sale Package
RoundPoint Mortgage Short Sale Submittal
Submiting Your Short Sale Package to RoundPoint Mortgage To Get The Process Going.
What is in the RoundPoint Mortgage Short Sale Package?
Usually lenders demand following list of documents 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 also require you to 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: RoundPoint Mortgage Short Sale Broker's Price Opinion (BPO) or Appraisal
RoundPoint Mortgage Short Sale Value
Getting The Right Value Goes A Long Way.
Lender will complete a valuation in order to know whether the person is eligible for the short sale or not. A broker completes valuation by comparing the properties similar to the property in question which are either currently listed or have been sold within 3 to 6 months. They consider the homes perceived condition, the size of the lot, the size of the living space, how many stories it has and whether or not it has a pool.
Market conditions and how fast homes are selling in the area will also be considered. There are many factors they take into consideration.
RoundPoint Mortgage Short Sale Appraisal
Short Sale Appraisal Values
An agent will give an opinion called a Broker’s Price Opinion (BPO) to the lender.The reason why the lender will need to obtain is because they are already taking a loss. 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.
RoundPoint Mortgage Value Disputes and Variances
Filing Value Disputes and Variances
It is more common occurrence than you think that sometimes a value returns too high and it can happen to both professionals and experts. Sometimes the agent makes a mistake and compares properties that have nothing in common because he/she is not from the area.
Step 5: Finalize Short Sale Terms
How Long Does A RoundPoint Mortgage Short Sale Take
RoundPoint Mortgage’s Short Sale Time Line Coming To An End.
At this time the undersigned will have to decide whether you qualify and to send your file to the management or not. Usually there is an auditing process before submission to the management and if approved there is often another auditing process that occurs before an approval letter is issued.
RoundPoint Mortgage Short Sale Counters
RoundPoint Mortgage Counters Short Sale
Rejection or counter of your short sale application may occur at that time. Someone with special skills are needed to compete with either of these situations. Such skill can only be acquired by 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.
If you ever came across a typical/traditional escrow a short sale escrow will look very much similar. The escrow process will start after all the debt holders have given their approval. Title search is issued by now to ensure that all the interest holders in the property have been properly addressed.
Short Sale Extensions
RoundPoint Mortgage Issues Short Sale Extension
One question that we keep on getting is what If short sale process has not beeen able to complete and the approval letter expires ? To be honest, there is not a simple answer to this. It depends on lateness of the mortgage, whether the value they have expired, and many other details. If you need more time to see what we are able to get approved with RoundPoint Mortgage Management consult one of our professionals. 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 RoundPoint Mortgage’s net).
We've Been Dealing With RoundPoint Mortgage For Over A Decade!
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How Does ACG Get Paid?
Absolute Consultant Group (ACG) is working with team of local brokers, if you need to sell your property on time contact us. We get the compensation for our services directly from RoundPoint Mortgage. We do not get compensated for anything if the transaction fails to close in the end . The agents involved in the deal are awarded an amount for their services and usually we also get our payment from the same account. This service generally costs the seller nothing out of pocket. Call for details 888-934-3444.
Understanding The RoundPoint Mortgage Short Sale Status
You have noticed it by now that package for RoundPoint Mortgage is a pretty lengthy and difficult document. RoundPoint Mortgage has not done anything in order to make the process for its consumers any simpler but you don’t have to worry because ACG is here to help you with the application for the short sale process to get mortgage assistance from your servicer.
Assistance For RoundPoint Mortgage
ACG can provide you help in every challenge regarding RoundPoint Mortgage. You will find that ACG one stop shop regarding the mortgage relief services and we will be the only point you will have to contact. We can help you to complete your short sale with them.
Call Us 888-934-3444 Today.
RoundPoint Mortgage Short Sale Package Breakdown
To Answer what is RoundPoint Mortgage Package?
If you apply for mortgage assistance with RoundPoint Mortgage then the first thing required from you will be a package called RoundPoint Mortgage Request for Mortgage Assistance (RMA). You must make sure that the package you are submitting is the latest one; it will be surely benefiting if you consult with a professional first. The paperwork we last found was put up on the Absolute Consultant Group(ACG) Website. ACG helps homeowners with their RoundPoint Mortgage Short Sale and RoundPoint Mortgage process.
There are 9 Sections to the standard RoundPoint Mortgage Request for Mortgage Assistance (RMA).
Need Assistance With A RoundPoint Mortgage?
Need Assistance With A RoundPoint Mortgage?
RMA Package PDF Breakdown:
Hardship Affidavit Application Check List
- Borrower /co-borrower Information This section will require you to fill out all the personal details of the borrower and co-borrower.
- Household Income. You will put all the details about the total income of the borrower.
- Monthly Borrower asset This section will contains all the details of the assets.
- Monthly Borrower Expenses This section will contains all the details of the monthly expenses.
- Hardship affidavit/letter In this section you are required to put type of hardship and its reasoning
- Borrower/Co-Borrower Acknowledgement and Agreement This section requires your signature authorizing that everything you have stated is true etc.
- Form 4506-T The final document in the whole page is the 4506-t which is used in order to verify the tax returns that you provided. Make sure to follow the directions thoroughly.
- Real Estate Fraud Certification Both borrower and co-borrower represent that they have not be convicted within last 10 years. Both of them sign the form
- Home Affordable Program
Government Monitoring Data Form You are not required to furnish this information, but are encouraged to do so. If you furnish the information, you have to provide both ethnicity and race.
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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.