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Selene Finance Short Sale Application, Forms And Packages
Are You Still Dealing With Selene Finance By Yourself?!
?Are You Still Dealing With Selene Finance By Yourself?!?
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Step 1: Selene Finance Short Sale Experts
Finding The Right Short Sale Agent
Finding The Right Agent
One thing to take care of the most is that you find the professionals who know what they are doing because although a short sale seems like a pretty common process but there there are very few professionals who know how to do the job properly.If you still 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!
You will also have to get your property listed by working with a broker to keep the process running smoothly. You have to do this so that the property gets reviewed fairly. It is never allowed to just take an offer to the lender. 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.
Step 2: The Short Sale Offer
Real Estate Short Sale Definition
What is a short sale?
When a property is listed for sale and the amount offered for it is not enough to pay off the debts taken against the property then in this case this short sale will be called as a short sale. Selene Finance cannot review your application unless you have an offer on the property. The lender will need to see what is the net amount that you will make them in the end after all the closing costs have been deucted from the offered amount. This includes 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 potential buyer can have. A buyer who can wait will always be better when compared to all cash buyer and even whose offer is more than others. Candidates will have to be interviewed by the broker in order to make sure that offer is solid. Broker is as important as the buyer.
Previously Approved Short Sales
Previously Approved Selene Finance Short Sale
Some brokers are very misleading to advertise that their previous short sale application was approved by Selene Finance but even it was approved they will need to make a full review.
Step 3: Submit Selene Finance Short Sale Package
Selene Finance Short Sale Submittal
Submiting Your Short Sale Package to Selene Finance To Get The Process Going.
What is in the Selene Finance Short Sale Package?
Usually the lenders have the same document requirements. Below follows a list of the documents usually demanded: a listing agreement, a purchase agreement, proof of the buyer’s ability to perform such as proof of funds or a pre-qualification 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: Selene Finance Short Sale Broker's Price Opinion (BPO) or Appraisal
Selene Finance Short Sale Value
Getting The Right Value Goes A Long Way.
A valuation will have to completed by the lender to know whether you qualify for the short sale or not. He has to consider 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. Market conditions and how fast homes are selling in the area are also taken into count. Many other factors are also taken in to consideration.
Selene Finance Short Sale Appraisal
Short Sale Appraisal Values
Selene Finance are usually working as a mortgage service only and representing an investor who is facing a loss from the short sale so the lender will need a valuation. lender will obtain an appraisal If the lender 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.
Selene Finance Value Disputes and Variances
Filing Value Disputes and Variances
Sometimes the broker makes some mistake and the value returns too high because the broker is not from the area and compares properties having nothing in common and this can happen to both rookies and the expert professionals.
Step 5: Finalize Short Sale Terms
How Long Does Selene Finance Short Sale Take
Selene Finance’s Short Sale Time Line Coming To An End.
This is the fate deciding time of your short sale application as to whether send your file forward to the investor or not. Auditing process is completed before presenting the file to the management, and then there is an another process before issuing the approval letter.
Selene Finance Short Sale Counters
Selene Finance Counters Short Sale
Special kind of skills are required to compete with the two situations that can arise at this time which are that at this time management can either counter or reject your application. Anyone can do easy tasks but it is the difficult tasks that are hard and separate the experts and wannabees.
Step 6: Closing A Short Sale
Short Sale Escrow
Short Sale Escrow.
You will find typical escrow processes and closing of short sale escrow very similar Once all debt holders have given their approval, you can move forward 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
Selene Finance 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 negligence 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 Selene Finance’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 Selene Finance’s net).
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How Does ACG Get Paid?
ACG has a great team of professionals always willing and ready to work with the local broker to get your property sold on time. We will get our income on the condition that the transaction closes successfully. Usually we are paid our fee directly by Selene Finance and it usually comes from the amount paid 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 Selene Finance Short Sale Status
Selene Finance short sale package is a fairly difficult to complete document. Up till now Selene Finance have not been able to do anything to make this process a little simpler but you have nothing to worry about as ACG is always here to assist you with the short sale process with Selene Finance.
Assistance For Selene Finance
ACG will be the only company you will have to contact and we will help you with all the mortgage relief challenges related to Selene Finance and we will become a one stop shop for completing your short sale process with them from start to finish.
Call Us 888-934-3444 Today.
Selene Finance Short Sale Package Breakdown
What is the Selene Finance Short Sale Package?
When you apply for any kind of mortgage assistance with Selene Finance they will ask from you to submit a package called Selene Request for Mortgage Assistance (RMA). You should always make sure to submit the latest paperwork; 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 Selene Finance Loan Modification and Short Sale process.
There are 6 Sections to the standard Selene Short Sale Package.
Need Assistance With A Selene Finance Mortgage?
Need Assistance With A Selene Finance Mortgage?
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.
- Household Assets This section will require that you fill out all the details of all the assets currently owned by the household. You have to explain household income, expenses and debts etc.
- Income Documentation In this section you will be required to put the monthly income details salary and other sources of income.
- Hardship Affidavit This section has hardship options from which you will need to tick out the correct ones showing the reasons for your hardships.
- Acknowledgement and Agreement In this section you havecertify, 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.
- 4506T – 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.
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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.