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Increase Productivity & Success Rate
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Short Sale Approvals Much Faster & Easier |
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Assembles & Submits Entire Short Sale Pkg |
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Highest Approval / Success Rate In Industry |
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Minimal Lender Communications Required |
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Work From Any Home There’s a Fax or PC |
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Increases Income By Speeding Efficiency |
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Securely Optimizes Movement of Data |
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What’s In It For You?
Shorty, is designed to make your job easier! Whether you’re a 1st time home buyer, a foreclosure home seller, realtor, or foreclosure investor, “Shorty” will minimize your efforts and maximize your successful approvals on your short sale submissions to any mortgage lender nationwide.
We provide innovations designed to reduce total time investment and speed approvals on Pre-Foreclosure Short Sales. In today’s market, mortgage servicers are extremely difficult to communicate with and slow to respond. Many times short sale approvals arrive long after it’s too late and the transaction has expired or gone through foreclosure. This costs you valuable time and money. Then came “Shorty” !!
“Shorty” LoanResolve.com’s new short sale processing center is designed to dramatically increase the success of your short sale submissions. Secure encrypted Hyper-Transport technology optimizes the movement of data and the sharing of resources among all parties involved in the Real Estate transaction.
What does this means in Layman’s terms? We get your short sale offers closed much faster and more often using a website that allows parties to communicate freely and more efficiently. You can now pass data or documents bi-directionally to speed processing, approval and delivery time of critical documents in Pre-foreclosure Short Sales.
How’s Does It Work ?
“Shorty” will guide you in the “correct” compilation of your short sale offer through our easy 7 step online process. Your short sale offer is assembled on LoanResolve’s “Shorty” based on current intelligence lenders use to approve these offers. Should your offer be at risk of lender denial, you will be supplied with the correct lender guidelines to make the necessary adjustments to your offer prior to your submission. Once you have entered your correct data, “Shorty” then prompts you to submit the rest of the required supporting documents by fax. The faxed documents are then compiled with the data you entered to complete your short sale package. Shorty’s Direct Connect Architecture electronically encrypts the data for security and submits your “completed” package to decision makers who can approve your short sale offer in days, not months. “Shorty” includes a subscriber mailbox that allows you to communicate directly to your respondents using “click to talk”, text instant messaging, fax, sms, or email. There’s no faster way available today.
Why Use Shorty?
Money, it’s that simple. Whether you are a homeowner at risk of losing your home to foreclosure, a realtor trying to close a short sale, or prospective buyer, it’s all the same. Your transaction is either costing you money, wasting your time, which is money, or it’s going to make you money! It’s that simple! When time is money, “Shorty” is your answer.
Short Sale Processing Center
“Shorty” On Demand Short Sale Processing Services – “Do It Yourself”
The Short Sale processing center provides different users a simple method to almost guarantee a successful short sale.
Virtual Expert Panel
Executives from Citi, Wamu, Countrywide, Wells Fargo, Chase, EMC, Fremont, USFN, AFN, and more, participated in panel discussions about the various requirements and approaches to implementing LoanResolve’s Short Sale processing technology. These experts literally designed “Shorty”, to submit the short sale offers in a format these executives can approve quickly. End Result, a much higher approval rate with faster approval times.
A team of mortgage industry experts standardized the process to create a web solution to enter your short sale offers and get lender approvals quickly. Shorty has many features that you will find nowhere else. Many of which are designed to speed the process, protect consumers, and hold lenders accountable within required legal timeframes. All of which save you time and money. Lets get started !
There are a few components that are common to every short sale.
A Seller, A Buyer, a Realtor (sometimes), A Mortgage Servicer, A Closing Agent, & New Mortgage Provider. The key to any successful transaction is always communications. So the first place to start is to make sure all parties remain on the same page during the transaction. If so, many of the sticking points are avoided.
Step # 1
What Is A Short Sale:
It’s the sale of real property for less than the amount owed to the mortgage lender. I can bore you with all the details of how this functions and maps out, but I am sure you just want to get your offer submitted and accepted so Let’s Get started.
We’re going to need a few things.
Seller Permission & Supporting Documents
The homeowner must provide a few items to get started and then an experienced realtor or buyer can take it from there until seller acceptance is required to finalize the transaction.
As the seller you will need to log into www.LoanResolve.com and enter some information. So it’s best to gather a few items and have them close by to refer to. Docs required – Mortgage Statement, Two months bank statements, copies of two months paystubs, and any other monthly bills that will assist you in updating your current monthly expenses. Power bill, utility bills, phone bills, car payments, credit card statements, cable bill, child support etc.
While logging in you will give authorization to LoanResolve to deliver your information directly to your lender using our technology. We do not normally speak with borrowers about financial issues, just technology support issues. The technology does the work for you, saving you time and money.
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Create an account, verify your correct email address for future communications and update some critical data and contact information. |
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Enter your current mortgage information, your loan account numbers and all contact info including acct reps and contact numbers. |
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Is the home in foreclosure? If so, we will need the foreclosure attorney firm’s contact info, names, numbers, fax and tel numbers, your case number etc. Is it one foreclosure or two? Please indicate if you are in foreclosure or “at risk of immanent foreclosure” because of extenuating circumstances. |
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Write a Hardship Letter- You will be required to explain the reasons you fell behind on your payments. There are samples available that you can cut and paste, then shape to your own situation. It’s easy. |
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Financial Worksheet – You will be required to provide a current view of your financial status. The lender uses this to verify that you can no longer afford home ownership. None of this information is ever used against you so don’t be afraid. Lenders just need supporting information to make the best decision for you. |
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Fax In Your Supporting Documents – Upon registration you will receive an email with several fax cover pages. Place the correct documents behind each fax cover page and fax them into the toll free fax number provided. DO NOT SEND ALL FAXES AT ONCE! Fax each document set separately. Please place your bank statements behind the appropriate fax cover page and send it in. Please do the same for Pay Stubs etc. It may take 5 separate fax transmissions. They are toll free and cost you nothing!! |
Good Luck. We are Happy To Help You!
LoanResolve.com provides you with a set of common services for supporting user communications.
Core features that are common in the solution are:
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Embedded email and messaging containing and logging all communications |
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Notification system that manages all tasks, notifications, and messages |
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Reports for tracking properties by stage, status, at a point in time or over a range of dates |
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System time stamped record of all assignments, submissions, and actions during the account lifecycle |
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Selection of appropriate realtors based on service or Geo mapping / area matching |
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Form configuration assist with automated calculations & data formatting; form approvals-data security |
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Field-level valuation of property data, and other required entries |
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Import and Export of data providing data-level integration with mortgage servicer solutions |
EACH OF THE FOLLOWING ARE NECESSARY FOR A SUCCESSFUL TRANSACTION
- Hardship Letter
- You need to provide an explanation what caused you to fall behind on payments.
- Financial Worksheet
- A snapshot of your current financial situation to qualify you out of your loan.
- Credit Report
- This outline your CURRENT outstanding financial obligations. They will pull one if we don’t.
- Income Verification
- Necessary to prove your inability to pay monthly payments for the property.
- Borrower Authorization
- Allows LoanResolve.com to retrieve all information necessary on your behalf.
- PayOff / Re-instatement
- Reports costs incurred since your default and total amount currently due.
- Broker’s Price Opinion
- BPO or Property Valuation - reflects the current value of your home. We use the same vendor and receive them in minutes, not weeks, to speed your transaction approval times
- Offer Sheet
- This sheet explains which program you most prefer to utilize to resolve your default
- HUD-1 Settlement Sheet
- This worksheet explains what the lender "nets" after fees, taxes and closing costs.
- Buyers Pre-Approval Letter
- Proof that your buyer has solid funding with "No Contingencies".
- Sales Agreement or Letter Of Intent
- This proves that the transaction is solid with "No Contingencie
- PayOff / Re-instatement
- This reports the costs and fees incurred since your default and total amount currently due. These are ordered automatically from your lender and or foreclosure attorney after you log in and provide the correct lender account information. And foreclosure attorney firm if applicable.
After you have completed these steps, Then log out and then log back in after a few minutes to see that your documents are available for viewing and legible for your lender to read.
Log in to check your mailbox regularly to look for your Short sale approval from your lender.
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