So many times we get hardship
letters that are just too long or rambling explanations of how the borrower got
into the situation and frankly, a too long. Too much information hardship
letter usually throws up more red flags and road blocks to the West Sacramento short sale than anything else.
Some examples include referencing
protected assets like your 401K or retirement plan, un-needed references to
rental property or vacation time shares or spousal income when they are not on
title or on the loan. Now, we are never going to be deceptive or fraudulent,
however your hardship letter should be brief and to the point. I call it the
Joe Friday letter for those old enough to remember the lead character played by
Jack Webb in the TV and later Dan Akroyd in the motion picture “Dragnet”. Joe’s
favorite phrase when taking an interview was “just the facts mam.” That is what
we are looking for in your hardship letter – just the facts. Facts such as “my West
Sacramento home is worth less than half of what I owe” or “I lost my job and
can no longer make the payments” or “I work for the state and the furloughs of
the past couple of years have put us in a place where we just can’t catch up”
etc. The bank is really just looking at the net they will receive plan and
simple. If the net on a West Sacramento short sale is greater than a West Sacramento foreclosure then you will get the
West Sacramento short sale – simple.
To get a better idea of when your West
Sacramento home will be worth what you owe, log in to www.shortsaleandloanmod.info
for a free estimate or call me today for a free no obligation consultation.
Call me today and sleep better tonight; you’ll be glad you did
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