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SALES * RENTALS * HOMEWATCH
www.NaplesNative.net South Florida Realtor
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Emily Cox Antonas
239-465-9596
Emily@NaplesNative.net
save home from foreclosure, short sale in Naples, short sale in Bonita, short sale in Estero
A short sale is when you can get your lender(s) to accept less than the total loan balance due. Not all
lenders will agree to receive less than the amount due and accept a short sale, especially if it makes
more financial sense for the lender to foreclose the property instead! In addition, not all sellers or all
properties qualify for a short sale.

Common reasons lenders will agree to a short sale:
The mortgage is in arrears or in foreclosure stages
The homeowner has hardships and cannot afford the payments
New homes in the area are being chosen over existing homes
The area or neighborhood has depreciated in value
The lender’s shareholders are concerned when there are too many defaulting loans on the books.
Some lenders are required to prove a loss each month…Let’s help them out!
Some lenders are required to have an amount equal to or up to six times the retail value of each
REO “on Hand”
An REO is a liability, not asset. Too many liabilities will cause any business to go under if not dealt
with quickly.
Can I short sale a nice property? Absolutely! As you can see above, lenders will short sale a home
for many reasons other than the poor condition of the property.

What happens to the homeowner’s credit?
When negotiating a successful short sale, keep in mind that the agreed upon price is payment in full.
However, the homeowners may still owe the difference between the loan balance and the discounted
amount via a “deficiency judgment.” If granted, this judgment will affect the homeowners and their
credit report just as any other judgment, unless the lender has agreed to accept “payment in full
without pursuit of any deficiency judgment.”

Short Sales & Taxes
When a lender has accepted a short sale on your property, the discounted amount (the difference
between the loan balance and the short sale) may be declared as income on your income tax return by
means of a “1099 form.” You should speak with your accountant for advice.
Short Sale Information
Let's Get Started:
Download the following Forms, Fill out &
Email or Fax Back

Residential Listing Owner Info
Short Sale Waiver of Liability
Chinese Drywall Disclosure
Closing Cost Disclosure
Seller's Disclosure
Authorization Form
HOA Addendum (if applicable)
CDD Addendum (if applicable)
Closing Cost Disclosure

You will need to gather the following:

Last two (2) years of taxes
Last 60 days of bank statements
Last 2 pay stubs(P&L if self employed)
Last Mortgage Statement(s)
Hardship Letter
Financial Worksheet
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