Selling your home as a short sale can be a stressful situation. It is often the result of financial hardship and is never an easy decision to make. You put your home on the market and hope for the best. Lucky for you, the market is booming with buyers so your Realtor is able to negotiate a great contract. Lenders require an offer to purchase as part of a complete short sale package, so this is often the final piece of information needed to initiate the process.
Everyone knows how important your credit score is. It not only affects whether or not you’ll be approved for credit such as an auto or a home loan, but also affects the interest rate you’ll receive on these loans.
You’ve found a home and signed your real estate purchase contract. Now it’s time to get started on your home loan. Lucky for you, you’ve got a great lender who can guide you through the process. But, even the fastest lenders must stick to minimum timelines when originating a home loan.