Скачать или смотреть Illinois Short Sales - A Guide to What Attorneys Can Do for You

Are you considering a short sale as a way to sell your property? If so, it's important to understand how the process works. In this video, we'll walk you through the steps involved in a short sale, from consulting with a specialist or real estate agent to closing the sale with the lender's approval.

First, you'll need to consult with a short sale specialist or real estate agent to determine if a short sale is the right option for your financial situation. From there, you'll need to list your property for sale with a lower price than the outstanding mortgage balance. If a potential buyer makes an offer, you'll need to submit it to the lender for approval.

If the lender approves the offer, you'll need to provide a short sale package, including financial statements and a hardship letter. You'll then negotiate the terms of the sale with the lender before closing the sale once the lender approves. The sale proceeds will be used to pay off the outstanding mortgage balance, and you'll be released from further obligation to repay the debt.

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