What is included with this book?
Preface | p. vii |
How a Short Sale Works | p. 1 |
What is a Short Sale? | p. 1 |
Who Needs a Short Sale? | p. 3 |
What a Short Sale Can Do for a Seller | p. 3 |
How a Short Sale Works | p. 3 |
Seven Steps to a Short Sale | p. 21 |
How a Short Sale Can Help You | p. 22 |
A Successful Short Sale Story | p. 24 |
What About Just Walking Away? | p. 26 |
How Short Sales Are Done | p. 27 |
How to Get Holders of Junior Mortgages (and Other Lien Holders) to Release | p. 32 |
Deficiency Judgment | p. 33 |
The Short Sale as a Solution | p. 37 |
Will a Short Sale Work for You? | p. 39 |
How Do I Handle Expenses in a Short Sale? | p. 43 |
The Money Comes from the New Buyer and His or Her New Mortgage, but Ultimately from the Foreclosing Lender | p. 46 |
How the Lender Sees It | p. 47 |
When You Have More Than One Mortgage | p. 48 |
It's Not How Much You Owe; It's How Much the Lender Will Forgive | p. 49 |
How Do I Find a Good Short Sale Agent? | p. 51 |
When Should I Sell It Myself and Save on Paying the Commission? | p. 52 |
When Lenders Were the Problem | p. 53 |
When Agents Became the Problem | p. 54 |
Who's to Blame? | p. 55 |
How Do You Select a Good Short Sale Agent? | p. 56 |
When You Don't Get a Good Agent | p. 58 |
The Basics to Look For in an Agent | p. 61 |
Should I Go with a Chain or an Independent Office? | p. 65 |
Will the Agent Negotiate on the Commission? | p. 65 |
Understanding the Listing Agreement | p. 66 |
The Listing Agreement | p. 69 |
Listing Danger Signals | p. 74 |
What the Agent Owes You | p. 74 |
Buyer's Agents vs. Seller's Agents | p. 75 |
Which Type of Agent Do You Want? | p. 76 |
Preparing Your Home to Show When You're Not Going to Net a Dime | p. 78 |
The Savvy Seller | p. 79 |
Things You Should Do | p. 80 |
Things You Should Not Do | p. 84 |
When the House Is Empty | p. 86 |
How to Talk to a Lender | p. 87 |
Questions to Ask | p. 88 |
When You Have an Agent | p. 89 |
Be Careful to Whom You Give Permission | p. 90 |
Dealing with the FHA | p. 90 |
Lenders' Loss Mitigation Phone List | p. 92 |
Why Not Try a Loan Modification? | p. 99 |
Cram Downs | p. 102 |
FHASecure Program | p. 104 |
The Obama Housing Plan | p. 105 |
Loan Modification Fixes | p. 106 |
At a Loan Modification Meeting | p. 107 |
Putting Together the Short Sale Package | p. 109 |
The Package Proposal Offer to Lender | p. 111 |
Lender's Net Sheet or HUD-1 | p. 111 |
Purchase Contract Signed by Buyer | p. 113 |
Seller's Financial Information | p. 117 |
Seller's Hardship Letter | p. 118 |
Appraisal Showing Property Value | p. 122 |
Repair Estimates | p. 122 |
Payoffs | p. 123 |
The Bottom Line | p. 123 |
Rewards (?) for Missed Payments and Other Tricks | p. 125 |
What Should You Do? | p. 128 |
When You're in Good Shape | p. 130 |
Will a Lender Do It? | p. 130 |
Isn't There Any Way I Can Get Some Cash Out of the Deal? | p. 131 |
When It's the Buyer's Idea | p. 133 |
Should You Take the Offer? | p. 134 |
Tax Consequences and Other Dangers | p. 135 |
The 1099-C | p. 136 |
Form 982 | p. 136 |
The Mortgage Forgiveness Debt Relief Act of 2007 | p. 137 |
When the House Needs Repairs | p. 138 |
What to Do If You Get a Law BPO | p. 141 |
Beating the Clock | p. 143 |
Mortgage vs. Trust Deed Timelines | p. 144 |
Stopping the Foreclosure Process | p. 149 |
Resources | p. 149 |
Alternatives You Should Consider | p. 150 |
Deed in Lieu of Foreclosure | p. 150 |
Bankruptcy | p. 154 |
Renting Out the Property | p. 154 |
Take on a Partner | p. 156 |
Alternatives | p. 158 |
Scams to Avoid | p. 159 |
Fixers and Facilitators | p. 159 |
Double Escrows | p. 161 |
The Self-Help Bailout | p. 162 |
Phony Leasebacks | p. 163 |
Phony Net Sheet | p. 165 |
Other Scams | p. 167 |
Resources, Helpful Definitions, and Types of Mortgages | p. 168 |
Resources | p. 168 |
Definitions of Terms Used in Short Sales | p. 170 |
Types of Mortgages | p. 185 |
Index | p. 189 |
Table of Contents provided by Ingram. All Rights Reserved. |
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