About Kim Schreiner

Kim Schreiner is an award winning real estate agent who serves Bucks County, Montgomery County and Philadelphia. She is a Certified Internet Professional (ePRO) and is a Short Sale and Foreclosure Resource (SFR). Kim has also won the Five Star Real Estate Agent Award multiple years in a row and has been featured in Philadelphia Magazine. You can contact Kim or learn more about how she can help you by visiting http://www.KimSchreiner.com or view client testimonials at http://www.KimsTestimonials.com or by calling her at 215-510-2149. RE/MAX Affiliates 215-992-1726

Short Sale: A Foreclosure Alternative

What is a Short Sale?

A short sale is when a lender (mortgagee) agrees to allow the borrower (mortgagor) to sell their home for less than what they owe on the mortgage rather than foreclose. A Short Sale is NOT a simple process. It is time consuming and takes a great deal of patience from all parties involved.

The mortgagor will be asked to provide the lender with data to support their claim as to why they can no longer afford their mortgage. Typically the lender asks for 2 years tax returns, 2 most recent paystubs, last 2 bank statements, a Hardship Letter (a letter to each lender explaining your situation), a list of your monthly expenses and a letter of authorization allowing a 3rd party to negotiate on your behalf, usually your real estate agent or real estate attorney. I strongly recommend that you enlist an experienced professional to negotiate the short sale. READ MORE