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  • Emc Short Sale Information Packet 2019

Get Emc Short Sale Information Packet 2019-2025

However EMC Mortgage a brand of JPMorgan Chase Bank N.A. still has the right under the Mortgage to foreclose on the Property. 8583D SSIP 04/21/11 Short Sale Information Packet Page 1 of 10 REQUIRED DOCUMENTATION CHECKLIST Loan Number 1A. SHORT SALE INFORMATION PACKET In order for us to evaluate your Short Sale request you must complete this packet sign in all the required places and fax or mail it to EMC with the required documentation. Please ke.

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The "short" part of a short sale refers to the bank taking a loss on the property, since the selling price is short of the amount that the seller owes. Short sales differ from foreclosures.

What Is a Deficiency Judgment Following a Short Sale? Because the sale price is "short" of the full debt amount in a short sale, the difference between the total debt and the sale price is the "deficiency."

General Requirements When Processing a Fannie Mae Short Sale Evaluate the borrower's eligibility and cash contribution requirements, if any, based on the status of the mortgage loan at the time of the respective evaluation. Advise the borrower of the advantages and disadvantages of agreeing to a short sale.

Submit the short sale package to your lender(s): The short sale package generally includes the following items: A letter of authorization for your agent to speak with the bank. An estimated net sheet. A completed financial statement or request for mortgage assistance (RMA).

What Is Fannie Mae? Fannie Mae is a government-sponsored enterprise (GSE) that purchases mortgage loans from smaller banks or credit unions and guarantees, or backs, these loans on the mortgage market for borrowers.

Fannie's short sale guidelines state that reasonable and customary seller closing costs can be deducted from sale proceeds. The rest of the sale proceeds are applied to the loan, and the mortgage is considered paid off and satisfied.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232