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    their own appraisal to insure it is correct. The lender will want an explanation of the circumstances which created the need for the short pay-off
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    Recently there has been a resurgence of short sales in the real estate market. If you are a listing agent and you have determined your seller is upside down in his mortgage, you may want to suggest the seller contact his lender and request a short sale package. As an agent it is your responsibility to supply the lender with the comparative market analysis on the property.

    Short sales in 2007 are different than the 1990's. Property values are not plummeting and interest rates are still viable. The lender will want to see the property listed for fair market value and will obtain their own appraisal to insure it is correct. The lender will want an explanation of the circumstances which created the need for the short pay-off t

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    side down in his mortgage, you may want to suggest the seller contact his lender and request a short sale package. As an agent it is your responsibility to supply the lender with the comparative market analysis on the property.

    Short sales in 2007 are different than the 1990's. Property values are not plummeting and interest rates are still viable. The lender will want to see the property listed for fair market value and will obtain their own appraisal to insure it is correct. The lender will want an explanation of the circumstances which created the need for the short pay-off

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    lity to supply the lender with the comparative market analysis on the property.

    Short sales in 2007 are different than the 1990's. Property values are not plummeting and interest rates are still viable. The lender will want to see the property listed for fair market value and will obtain their own appraisal to insure it is correct. The lender will want an explanation of the circumstances which created the need for the short pay-off

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    lues are not plummeting and interest rates are still viable. The lender will want to see the property listed for fair market value and will obtain their own appraisal to insure it is correct. The lender will want an explanation of the circumstances which created the need for the short pay-off
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    their own appraisal to insure it is correct. The lender will want an explanation of the circumstances which created the need for the short pay-off transaction.

    Common explanations include: Divorce, medical problems, death, loss of job or job transfer creating need for a move. The purpose of the lender's financial package is: To make sure the reason for the default was unavoidable, involuntary or beyond seller's control. To verify seller has experienced financial hardship. To make sure seller does not earn enough money to pay the deficiency in installments over time, and to make sure seller does not have money to pay some or all of the deficiency in a lump sum.

    To verify the financial condition of the seller/borrowe

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