What’s a Short-Sale Package?

Because of the economic situation in the U.S., many people who own a home feel like they’re stuck between a rock and a hard place. If they sell their place for less than what they owe on it, they’ll have to make up the difference, the outstanding balance. So, according to an article on WalletPop.com, homeowners are arranging a short-ale package with their lenders (banks). The Nashville movers found out that in this arrangement or plan-of-action, individual homeowners have to prove that they can’t afford to hold onto their home anymore and that someone is interested in buying it at a price that falls short of the initial mortgage amount. This application for a short-sale package requires people to submit bank statements, paycheck stubs, unemployment letters and anything else that proves the person is unable to hold on to the house. If the house needs any major repairs, that information should also be provided. The person who’s offering to buy the house should also provide a letter stating the amount they’re ready to pay for it.
If you find yourself in the situation of having to deal with a short-sale, don’t forget to call upon your reliable Nashville movers to relieve the stress of moving day. All My Sons of Nashville are experts in moving services and will provide you with an affordable, professional moving quote.