Cover Letter to Loss Mitigation Department 1

What is Cover Letter to Loss Mitigation Department

No one can claim that selling your house is a very easy task. It can be very time consuming and expensive but the most important thing of selling house is pricing it properly and marketing it effectively. There are many real estate agents who work very hard at marketing your house and you can make sure that you for this help in form of all the commissions. If you are happy to take all the work yourself then you can save thousands of dollars and ease all the negotiations with the buyers as one neither has to figure out any commission into the process of negotiation.

Working with a Cover Letter to Loss Mitigation Department doesn’t imply that you basically kick back and sit tight for your home to offer. You will at present need to make repairs, keep the house clean, and have your calendar hindered for showings and open house occasions. Moreover, while arranging a last offering value, you and the purchaser will wind up considering the specialist’s bonus along with the deal cost in somehow, and this can confound arrangements. To put it plainly, offering a house yourself can be a considerable measure of work, yet you’ll get paid abundantly for it.

In the event that you turn into a Cover Letter to Loss Mitigation Department, you will have costs. An examination, which can help you decide the best cost for your home, will cost a few hundred dollars. Yet, this speculation helps you value the house to offer rapidly furthermore backs you up when it’s a great opportunity to arrange a last cost with a purchaser.

(No Ratings Yet)

Sample Template Preview

Cover Letter to Loss Mitigation Department

Your Letterhead

VIA FAX

ABC Mortgage Bank
Attn: Loss Mitigation Rep.

Re:    Loan #12345

Dear Mr. Loss Mitigation Representative:

As you know Sally and Bob Brown own the property located at 123 N.W. 15 Court, Any Area, USA 33333 and are facing foreclosure.  I am interested in buying their house, but they owe far more than the property is worth in its’ present condition.  Their attorney is advising them to file bankruptcy, but they don’t want to drag this on any longer.  Their wish is to sell the house to me, save their credit from foreclosure, save you the hassle of having to complete the foreclosure process, and move on with their lives.

After much consideration, I am willing to purchase the property from them.  However, because of its poor condition I cannot offer market value.  The property needs a lot of work to bring it up to current market standards.  I called a Realtor in this area and asked for the current market values and have based my offer accordingly keeping in mind the necessary repairs.  Based on the area comps, you can see that Bob and Sally now owe ABC Mortgage Bank far more than their property is worth.

My offer is $40,000 cash as payment in full inclusive of all fees, taxes, etc.  I am prepared to close in 30 days.  However, this offer is contingent on ABC Mortgage Bank to waive any deficiency judgment against Bob and Sally concerning the shortage.

Attached is the authorization to release, contract for purchase, net sheet, photos of the property, contractor’s estimate of repairs, comparable sales in the area, and my proof of funds letter.  Please review the attached documents and respond at your earliest convenience.  We urge you to accept our proposal and move for a quick closing on this property.

Thank you for your cooperation.  I look forward to working with you to help the Bob and Sally.

Sincerely,

Buyer Joe