Has the short sale process gotten any easier?  Lenders and the federal government have been working to make the short sale process easier.   Major changes have been made to their  systems and programs, making the foreclosure avoidance process more streamlined than in the past.   However,  the key to increasing your chance of a successful short sale is having an experienced and knowledgeable agent who can guide you while keeping all parties in the transaction informed.   As a seller,  you should be aware of the following:

1.     You the seller must have a verifiable hardship, like unemployment, medical bills, or relocation

2.     Must have a monthly income shortfall

3.     Be insolvent (you have no cash or assets that can be sold to pay down the mortgage), or headed towards insolvency

Meeting above criteria are the crucial first steps to a successful short sale.  The next critical steps are completing the lender's short sale packet,  document gathering and preparing your home for sale:

1.     Gather financial information (i.e., 2 years tax returns, 2 months bank statements, 2 months pay stubs).

2.     Prepare your home for sale by cleaning,  de-cluttering, and keeping your home in showing condition while being flexible with showing times.

3.     Expect the lender, junior lien holders, and private insurance companies to request more paperwork, and try to gather requested information as quickly as possible.

By working with an experienced agent, understanding what is required of you and setting realistic expectations, you can have an easier short sale.  The transaction can end less stressfully and successfully to the satisfaction and benefit of all parties involved.