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Wendy Valko

Cell: (248) 762-5290
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Milford MI Real Estate

Short Sale | Pre-Foreclosures



What is a Short Sale (Pre-Foreclosure)?

A short sale occurs when a property is sold by the homeowner and the mortgage lender agrees to accept a discounted payoff.  This means that the lender will agree to release the mortgage on the property for a final payment amount which is less (short) the actual balance owed by the homeowner.


Are you a good candidate for a Short Sale?

Are you enduring a financial or severe medical hardship that makes it impossible for you to pay the mortgage payments that you have agreed to and will have the inability to make the agreed payments continue for the foreseeable future.


The Short Sale Process is The De-Application of your Loan

Just as you once had to prove to the bank that you were worthy of a loan and could pay it back.  You now must prove the bank that you can't!

Basically, the bank wants to know what you have and what you owe.

  • Last 2 yrs tax returns
  • Last 2 months complete bank statements (all pages, even it blank)
  • Last 4 pay stubs
  • Write a Hardship Letter telling the bank why you are deserving consideration for a Short Sale (Pre-foreclosure).  Telling them what has occurred in your life that makes you unable to pay your mortgage now and will prevent you from making them in the foreseen future.
  • Complete a financial statement showing all your assets and liabilities
  • You may also be required to provide the last 3 month statements for your 401k or IRA, pension or retirement plans that you have.

A Buyer is obtained & willing to enter into contract to purchase the short sale property, Now What?

Compilation and packaging of all required information including Realtor & Title Company requirements are delivered to the bank for review.

The package then gets assigned to a specialist and is fully reviewed.  The specialist will then submit everything to the investor for review and the negotiation begins.

A great deal of patients is needed as Short Sales can take a considerable amount of time.  Some past cases have been known to of taken over 180 days to approve a Short Sale approval.

Once the Investor has approved the Short Sale, you can close on the sale of the property and move on without a foreclosure on your credit record.

If you would like to discuss this further, call 248-762-5290 or click on the Help Button Below and I (Wendy) will be more than happy to assist you.



IMPORTANT NOTICE: Wendy Valko (and RE/MAX Platinum) are not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit.



Wendy Valko    +        =    RESULTS           



For a no obligation, confidential interview regarding your real estate questions, contact Wendy Valko at 248-762-5290 or Email


Professionally Servicing but not limited to:

Oakland, Livingston, Genesee, Wayne & Washtenaw Counties   



Wendy Valko is a licensed Real Estate Agent that has elected to partner with RE/MAX International and RE/MAX Platinum.  RE/MAX Platinum consists of four physical branches; Fenton mi, Hartland mi, Brighton mi, & Ann Arbor mi.  Along with full access to each physical location, Wendy has a home based office in Milford MI, virtual office and  mobile.  All this allowing Wendy to professionally specialize in but not limit herself to Milford mi, Highland mi, Commerce Twp mi, Hartland mi, Brighton mi and Howell Michigan.


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