10 Items you need to start your Short Sale Negotiations with your bank!

Short Sale of your home is one of the options for home owners to avoid foreclosure.  In this blog we will examine the 10 documents that will be required to get your Short Sale Negotiations started.

1)  Hardship Letter: Hardship is the letter that states your reasons as to why you are no longer unable to make the payments on your home.   

2)  Financial Statements: You will need to supply two most recent Monthly Bank Statements showing ALL pages.

3)  List of Assets and Liability:  This is a spread sheet that documents your monthly income and expenses along with your Assets such as 401K, Stocks…etc.

4)  Taxes:  You will be required to supply 2 years of Taxes filed with IRS.

5)  Pay Stubs for the past 30 days or 2 consecutive pay periods

6)  Income/Expense and Asset Statement

7) Listing Agreement showing your property has been listed with a Short Sale Agent.

8)  Fully Executed Purchase Contract -signed by Buyers and Sellers

9) HUD 1 – Settlement Statement showing how much your bank will NET

10) Fully Executed Short Sale Addendum

Contact us for  FREE evaluation your eligibility for a Short Sale.  

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