Short Sale Information for Homeowners

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Information for Homeowners Information for Real Estate Professionals FAQs about Short Sales
Bayview's Loan Counseling Department Is Here to Help You

The sooner you contact us, the faster we can work together to get your account back on track.

Mon-Fri: 8am-9PM (ET)
Saturday: 8am-5pm (ET)
Sunday: Closed

Call a Bayview Asset Manager

If you think a short sale might work for you, the first step is to contact Bayview today. The Bayview Asset Manager for you loan has the knowledge, information, and responsibility to assist you.

Mon-Fri: 8am-6PM (ET)
Call our Loan Counselors for Other Options at 1.800.771.0299

What is a Short Sale?
If you're interested in moving on from your property and getting a fresh start, selling your home might be the best option for you. You have the right to sell the property to someone else up until the foreclosure sale date. If the potential buyer's offer is not sufficient to pay off your loan, we may agree to accept less than the total amount due under certain conditions. This situation is commonly called a "short sale".

How do short sales work?

1. List the property with a real estate agent
Bayview can help you locate an agent in your neighborhood. The agent will advertise and show the property like any other, though they may promote it as a short sale to enhance it's visibility.

2. Bayview works directly with the real estate agent
The short sale team will work with agent to quickly evaluate offers and generate sales contracts.

3. For the seller, the process starts like a typical home sale
The home owner contracts a real estate agent to list and advertise the property. If qualified offers are made at a price lower than the mortgage value, the offers are forwarded to Bayview. Bayview then negotiates with the buyer's agent to arrive at a price acceptable to Bayview and the mortgage investor. At the closing, the property is deeded to the buyer and the mortgage is released.

Bayview Can Help

Bayview can assist you in the short sale process – from suggesting an experienced short–sale real estate professional in your area to helping with paperwork. We will work directly with your real estate agent to respond quickly to all serious offers and can make arrangements for closings.

Important Documentation

In most cases, a Hardship Application may be the first step for Bayview to review your current financial situation when requesting help with your mortgage. Your Bayview representative will advise you if you need to complete this application.

Once you have completed the application, please use one of the five simple ways to return documents to Bayview.

Frequently Asked Questions about Short Sales

Call our Loan Counseling department at 1.800.771.0299 to learn more about your foreclosure avoidance options.
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