When working with the Loss Mitigation Department you need among others things and it is dependent on the bank you are dealing with: -

1. An Offer signed by the seller
2. A long letter, called a "Hardship Letter" signed by the seller indicating their dire straights and why they simply cannot afford the house.
3. A HUD from a title company
4. Estimated repair costs
5. A CMA (comparative market analyses)
6. Financial Worksheet, supplied by the lender, signed by the borrower
7. Pay stubs for the last few months
8. Current Utility bill
9. Verification of loss of income/job ? A copy of a Social Security Check would do.
10. As many photos as you can take of the damage, if there is any, to strengthen your case.
11. VERY IMPORTANT, get the contact person name in the Loss Mitigation Department and talk to them. Address all correspondence to them.
12. An Authorization to Release Information signed by the borrower in favor of you or your LLC

let me know if im missing anything =)

this is just one of many "entry" strategies of acquiring a property

if you've successfully negotiated a short sale whether its .60 to .70 cents to a dollar, put the property into a simple land trust and either wholesale/flip the contract to another investor for quick cash, or rehab/retail the property to get more cash, or rent it to get some cash flow, or provide seller financing(rent to own) to get maximum cash.

alvin... your post on Short sales and other processes are derived from sources that only use one process. Many processes exist, and most far better than the one you just posted.

I am not sure what the intent of your post was... actually many of them. They often appear to not be directed at anything specific and generally in the form of providing unrequested information...

Your post are often like this one which could be very misleading to someone who mistakenly though you had ever done a short sale using the process or any other process.

If your intent is to ask questions on how effective your procedure is... clearly state that request so others do not harm themselves using what they think is an effective process proven process. Try to be more responsible and clear in what the post is and is not.

thanks ken.
well with the process that ive typed down, am i on the right track? can you please help me fill in the gaps?

can you please share some of the processes you say that are far better than the one i mentioned? im very open minded and willing to learn other angles on short sales.

Try to be more clear on what your post is, and is not Alvin, but in response I will offer no alternative solution and be as vague as humanly possible, all the while criticizing you on your vagueness.

Seth suggest you read more than one post.

My point is this post should be deleted. It can be misleading to many who think the process posted is complete and accurate which it is not.

It is also a process that will vary by lender.

Such posting that appear to be by individuals that have actually used the process and not specifically placed in the form of a question when not posted by experienced individuals can result in significant harm to agents and their clients.

The basic process itself is not massively complex, but it can not be "taught" in a forum posing such as this. It is more extensive and has many more permutations than that that allows. As you would observe if you actually viewed and read other associated posting on the subject.

I understand the point you made realty check, and it was a very valid one. I was just being a smart a$$ for fun, don't take it personally.