1. WHAT DOCUMENTS ARE REQUIRED TO INITIATE A SHORT SALE?
1. Borrower(s) Written Authorization to discuss the loan with 3rd parties (not our borrower) and listing agreement if working with an agent
2. Borrower(s) Hardship letter (reason for delinquency)
3. Borrower(s) Financial statement – monthly income vs outflow
4. Borrower(s) Check stubs/ pay verification for the last two months
5. Borrower(s) Tax returns for last two years
6. Borrower(s) Bank statements for the last two months
7. If borrower owns any rental property, copies of the rental contract
8. Recent Mortgage statement from all lenders.
9. IRS Form 4506-T
10. Specific Lender Short Sale Package – varies by Lender
Realtor provided docs
11. Signed Purchase Contract and Addenda
12. Estimated Hud-1 or Closing statement – Net Sheet
13. Short Sale Disclosure Statement
14. Listing Agreement Docs
There may be additional paperwork required per individual lender short sale process. Contact us with any questions at 727-644-3370.