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About Jim Wolfe - Information about Jim Wolfe of Northville, Novi and Canton, Michigan Testimonials - Read what Jim Wolfe's clients are saying about the real estate marketing and services provided. Quick Response Guarantee - A quick response to your email request for more Michigan home buying & property selling information is guaranteed by Jim Wolfe. Privacy Guarantee - This Northville, Novi and Canton real estate web site will respect your privacy, guaranteed by Jim Wolfe. No Obligation Guarantee - Jim Wolfe's real estate help by email is free & without obligation for Northville, Novi and Canton home owners in Michigan. For Real Estate Agents - Let Jim Wolfe help you with your professional real estate broker and agent needs in the Northville, Novi and Canton area. About NUMBER1EXPERTS™ - NUMBER1EXPERTS™ are top real estate professionals, find out more. Contact Information - How to contact Jim Wolfe. Go to Main Sitemap - Main sitemap sections include Find Northville, Novi and Canton Homes, For Home Buyers, For Home Sellers, Northville, Novi and Canton Information, Real Estate Resources, and About Jim Wolfe. 
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Short Sales >3. How to Prepare for a Short Sale If a homeowner is facing foreclosure and wishes to explore short selling their home as an alternative, it is crucial to get help from a trusted real estate agent. With the agent’s help, this is how the homeowner will prepare to short sell their home: - Agreement. The homeowner must get the lender to agree to sell the home at a loss.
- Documentation. If the lender agrees to a short sale, the homeowner will need to provide documentation to the lender indicating that he or she is financially incapable of paying for the loan. It depends on the lender, but the documentation usually required can include:
- A hardship letter explaining why the homeowner is unable to pay the mortgage.
- Recent tax return forms, W2 forms, and/or 1099s.
- Recent paystubs.
- Financial statement detailing list of assets and liabilities.
- Consultation. The last thing a financially stressed homeowner needs is more financial stress. The homeowner should consult with an attorney to find out whether or not difference between what the home is worth and what the home sells for will be taxed.
- Communication. Everyone needs to communicate during this process. The homeowner needs to communicate with the lender to make sure the lender has everything needed to apply for the short sale. The homeowner and the lender need to be in constant contact with potential buyers to make sure they stick around.
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| Q |
What famous American sign was originally erected as a real estate ad?
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| A |
The Hollywood sign, built in 1923, was conceived as a real estate ad that originally read, "Hollywoodland." |
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