Short Sale: Bayview Loan Servicing provides very helpful information to borrowers who are facing a financial hardship, and missing mortgage payments. It may be time to consider a short sale. This will allow you to sell your house, even if you owe more to Bayview than the house is worth in today’s market. You first need to find an experienced short sale agent to get the house listed for sale, and complete the required paperwork, such as a Hardship Application.
Timeline: The average short sale is completed between 4 to 6 months depending on many factors.
A short sale is an option to avoid foreclosure but you must start as soon as possible. Even if you received a foreclosure notice, there may still be time for Bayview to review your loan and postpone the foreclosure sale.
Hardship Application: https://www.bayviewloanservicing.com/media/0/files/HardshipApplication.pdf