One of the first steps in applying for a short sale is knowing if you qualify and what documents your lender will request from you. Each short sale lender has their own specific guidelines on what needs to be submitted to ensure a complete package. However, most lenders have the same core requirements.
Please see an example list below.
Authorization to Release Information for all loans signed by borrowers
All letters you have received from the lenders pertaining to foreclosure
A copy of the Notice of Default
The Hardship letter detailing your situation on why you are unable to pay the loan
Financial Statement showing all income and expenses
Most recent mortgage statements for all loans
2 most recent bank statements for all borrowers
2 most recent pay stubs (if employed) for all borrowers
If self-employed, a Year to Date Profit and Loss Statement
Copies of any Termination Letter, SSC Award Letter, Retirement Income, etc.
2 Years of Tax Returns including W2’s, 1099’s, and all schedules for all borrowers
**For lender specific documents, please call 888-746-7820 or email us for additional information 411@ShortSaleExpert.com