Ally Financial frequently asked SHORT SALE & FORECLOSURE questions in Mississippi

What are some Ally Financial foreclosure alternatives?
I am upside down on my mortgage with Ally Financial, what should I do?
What is a Ally Financial short sale?
Ally Financial denied my loan modification, what's next?
What is the Ally Financial short sale process?
How do I choose a Ally Financial short sale company?
How do I qualify for a short sale with Ally Financial?
Where do I find a Ally Financial short sale expert?
How do I hire a Ally Financial short sale REALTOR?
How to find short sale agents who work with Ally Financial?
What are the documents required for a Ally Financial short sale?
How do I write a Ally Financial hardship letter?

What are some Ally Financial FORECLOSURE ALTERNATIVES?

If you are wanting to avoid foreclosure with Ally Financial in Mississippi, consider a short sale. Ally Financial has alternatives to a foreclosure. With record high defaults (foreclosures), a great solution is a Ally Financial approved short sales. There are a large number of people behind on their mortgage payments and upside down on their home that want to avoid foreclosure. Banks are allowing you to sell your home for less than what is owed. If you want to stop your home from going into foreclosure in Mississippi, a short sale may be the right solution for you. We provide this service at absoletely no cost to you and have great working relationships with Ally Financial to help you in your time of need.

I AM upside down on MY mortgage with Ally Financial, WHAT SHOULD I DO?

If you upside down on your Ally Financial mortgage, there are options to avoid foreclosure in Mississippi. There are many options to either avoid a foreclosure or make your mortgage payment even more affordable. To avoid having a Ally Financial foreclosure, one of the best options you might have would be performing what is called a short sale.

What is a Ally Financial Short Sale?

Banks such as Ally Financial are not wanting to absorb the cost of a foreclosure in Mississippi. Foreclosures are very expensive and time consuming. Banks will typically work with home owners in hardship and allow you to perform a short sale. Our company specializes in helping homeowners working out a short sale solution with Ally Financial.

Ally Financial Denied MY Loan Modification, whats next?

Knowing exactly what a short sale is will help you have a better understanding. We work with Ally Financial to negotiate a short sale for you. Our team of Short Sale Experts in Mississippi have a great realationship with Ally Financial and show that your home is worth much less than owed, and to avoid the hassels and expenses of foreclosing, we can negotiate a short sale.

What is the Ally Financial short sale process?

• The lender acknowledges receipt of the file. (This can take 10 to 30 days.)
• A negotiator is assigned. (This can take 30 to 60 days.)
• A Brokers Price Option (BPO) is ordered. (This can take 10 to 15 days.)
• A second negotiator could be assigned. (This can take another 30 days.)
• The file is sent for review or to the PSA. (This can take 15 to 30 days.)
• The bank might request that all parties sign an Arm's-Length Affidavit.(Typically nortorized)
• The bank issues a short sale approval letter.
• Close the sale of your short sale

HOW TO CHOOSE A Ally Financial Short Sale Company

When your loan modification is denied by Ally Financial, you are an ideal canidate for getting the lender to approve you for a short sale. Lenders attempt to work with home owners to save their homes, but when you are denied a loan modification by Ally Financial, they will allow you to short sale 99% of the time. Call us, we will give you other options.

How to Qualify for a Short Sale with Ally Financial

There are many reasons a Ally Financial will allow you to sell your home for less than owed. Any of these situations may qualify you for a short sale. (Note: these are most of them)

• Job loss or unemployment
• Relocation or involuntary job transfer
• Loss of income
• Decrease in working hours
• Medical expenses
• Major repairs on existing home
• Divorce
• Increased living expenses
• Death of borrower
• Short term or permanent disability
• Death of spouse or family member
• Business failure
• Vacant investment properties
• Bankruptcy

where do i FIND A Ally Financial short sale expert

Ally Financial foreclosure vs short sale in Mississippi. It could be the right solution for you. The lender short sale process in Mississippi can be a long and tedious task and negotiations could take months to complete. We strive to shorten this transaction timeline as a company by utilizing our relationships with Ally Financial.

HOW TO HIRE a Ally Financial short sale realtor?

Have a Professional Ally Financial Short Sale Realtor in Mississippi working for you. Our Short Sale Realtors are the top short sale Realtors to facilitate a effortless and smooth short sale. We are the Ally Financial Short Sale Experts in Mississippi. We have proven track record and can negotiate a short sale from beginning to end.

HOW TO FIND Short Sale agents WHO WORK WITH Ally Financial in Mississippi?

We don't just want you to work with any Real Estate Agent, we want you to work with a Short Sale Realtor that is a short sale specialist in Mississippi. What is the difference between a short sale agent and a short sale Realtor who specialize in working with Ally Financial? They both have to be licensed by the Department of Real Estate and follow the real estate laws. They both specialize in facilitating with short sale transactions and negotiations. The main difference is that a real estate agent is a REALTOR when he or she is a member of the National Association of Realtors. A Ally Financial specialized Realtor in Mississippi has to abide by a stricter Code of Ethics and Standards of Practice.

Hire a local Mississippi Ally Financial short sale expert to sell your home. Not all short sales are successful because every lender and situation is different. A short sale expert can examine your circumstances and be very knowledgeable of your options.

WHAT ARE THE documentS requireD for a Ally Financial short sale in Mississippi?

When qualifing for a Ally Financial short sale, most banks will require the following documentation to approve your short sale in .

• Recent Mortgage Statement
• 2 most recent months of paycheck stubs (if employed)
• 2 most recent months bank statements
• 2 most recent years W2's
• 2 most recent years Tax Returns
• Property Tax Bill (If it is not included in the mortgage)
• Property Insurance Bill/ Statement (if it is not included in the mortgage)
• Homeowners Assoc. Bill (If you have a Homeowners Association)
• Sellers hardship letter
• Complete financial statement
• Letter of authorization (which lets your short sale agent speak to the bank)
• HUD-1 or Preliminary Net Sheet
• Comparative Market Analysis or list of recent comparable sales

How do i write a Ally Financial hardship letter?

The Ally Financial hardship letter only needs to be about a page long typed out explaining your situation and how your circumstances have changed. The lenders want to know why you are not able to make your mortgage payments. Contat us today for a break down on how to write a proper Ally Financial hardship letter.

some history about Ally Financial

Ally Financialwas founded by General Motors Corporation in 1919 as the General Motors Acceptance Corporation (GMAC) to provide financing for automotive customers. Ally Financial Inc. was previously known as GMAC Inc. to re-brand itself starting in 2010. In 1919, GMAC branches opened in Detroit, New York, Chicago, San Francisco, and Toronto. In 1985, GMAC Mortgage was formed after it acquired mortgage loan operations of the Colonial Mortgage Service companies. Ally company headquartered in Detroit, Michigan, United States, has more than 15 million customers worldwide, and provides a range of financial services including auto financing, insurance, mortgage services, and online banking. The U.S. Treasury department owns roughly 73.7% of the company. Ally Financials mortgage operations focuses primarily on the residential real estate market in the U.S. Business activities include the origination, purchase, servicing, sale and securitization of residential mortgage loans.