Short Sale Resources
It is our goal to EDUCATE homeowners about the many facets involved with a short sale transaction. Please utilize this resource page to help educate yourself on what is involved with a short sale.
**For possible tax and legal consequences, please speak with qualified CPA and Attorney. Please contact our team if you would like a recommendation.
To complete a short sale, your lender will require you submit documentation to you. Below is what a typical Distress Packet that your lenders will require in order to complete the sale.
Lender Distress Packet
- 3rd Party authorization
- Hardship Letter- Describe your situation in a clear and concise manor. You will want to outline your circumstances such as loss of job, death, divorce, disability, serious injury, etc. The goal here is to help the bank understand why we are asking for their assistance in the sale of the property.
- Financial Worksheet/Personal Budget (or worksheet from bank)
- Previous two years Tax Returns (1040- PAGE 1&2) and W-2’s (signed and dated)
- 4506T request for transcript of tax returns
- Proof of Income
- Pay Stubs- last 2 months
- If self employed—last 3 months P&L statement
- If not employed—a written letter signed and dated stating no income
- If any additional income is received, such as rents, child support etc—please contact us directly to get a list of the items needed
- Bank Statements-ALL accounts–Last 2 months –ALL PAGES
RSS
Facebook
