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Name: Fillable Online Short Sale Contract With C.a.r.e., Inc. for Mortgage Foreclosure Services 2023 Fax Email Print - pdfFiller
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This contract allows homeowners to work with C.A.R.E., Inc. to achieve a short sale on their property, eliminating mortgage debt without upfront fees.

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What is short sale contract?

A short sale contract is an agreement between a homeowner and a buyer where the sale price of a property is less than the amount owed on the mortgage. The lender agrees to accept this lower amount as a full payoff of the mortgage debt.

Who is required to file short sale contract?

Typically, the seller (homeowner) is required to file a short sale contract, along with their lender, to initiate the short sale process.

How to fill out short sale contract?

To fill out a short sale contract, you need to provide details such as the property address, sale price, buyer information, and disclosures about the mortgage and financial situation. It may also require the lender's approval before being finalized.

What is the purpose of short sale contract?

The purpose of a short sale contract is to formalize the agreement where the lender agrees to accept a reduced payoff amount for the mortgage in exchange for the sale of the property, usually to help homeowners avoid foreclosure.

What information must be reported on short sale contract?

The information that must be reported on a short sale contract includes the property details, the current mortgage balance, the sale price, buyer's information, and any terms regarding the approval process with the lender.

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