Saturday, August 30, 2008

Short Sale Pre-Approvals, A Quandry of Sorts...

I found this short sale and mortgage approval letter or argument persuasive. A mortgage pre-approval letter is a step above pre-qualification. A short sale pre-approval involves verifying your credit, down payment, employment history, etc. Your loan application is submitted to an underwriter and a decision is made regarding your loan application. If your loan is pre-approved, you are then issued a pre-approval letter. Getting your short sale or loan pre-approval allows you to close very quickly when you do find a house. A pre-approval can help you negotiate a better price with the seller, since being pre-approved is very close to having cash in the bank to pay for the house!

Now, let's contrast that with a short sale preapproval and the short sale preapproval letter. You can see that the various short sale approvals and short sale preapprovals offer a stark contrast to what is otherwise considered a mortgage preapproval.

Florida short sale pre-approvals

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