When applying for a short sale, your lenders typically want to check your financial situation to decide that you really can’t afford your loan. We work with everyone to make sure the application package is complete. Short sales can be susceptible to fraud and they just want to make sure your hardship is real.
The package is one of the most time intensive parts of the entire process. Your organization and preparedness can greatly impact your success.
Please be ready to provide:
- 2 Years Federal Tax Returns
- 2 Most Recent Months of Bank Statements; all accounts
- Income Verification; typically 2 Most Recent Months of Pay-stubs or a Profit & Loss Statement if self-employed
- Financial Form Detailing Income, Expenses, Assets & Liabilities
- Letter Describing the Hardship
- Utility Bill, HOA Bill (if applicable)
Brokers Also Need to Provide:
- Preliminary Title Commitment or O&E
- Fully Signed Listing Contract
- Fully Signed Purchase Contract and Addenda
- MLS Sheet Print-off
- MLS Listing History
- Fully Signed RMSS Offer Package **Please contact us or the listing broker for a copy
- Estimate of Repairs (preferred but optional)
Many lenders are becoming increasingly picky about these financial documents please be sure:
- All pages must be included, please even send the backs of the bank statements
- Sign and date the 2nd page of your taxes (Form 1040) even if you e-filed
- Sign with real ink (No electronic-signatures allowed)
- All addresses be completely spelled out, no abbreviation (ie St. for Street)
- All names must be complete and as they appear on the title and loan documents
Once complete, send your package to our confidential e-Fax at (888) 862-1173.
