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INSTRUCTIONS Short Sale Affidavit The borrower, purchaser, and all parties involved in the transaction must sign and date a Short Sale Affidavit (Form 191) at the time of the closing confirming that

How to fill out short sale affidavit

How to fill out a short sale affidavit?

1. Gather all necessary documents: Before starting to fill out the short sale affidavit, make sure you have all the required documents such as financial statements, bank statements, tax returns, and any other documentation requested by your lender.
2. Complete personal information: Begin by providing your personal information accurately and in detail. This may include your full name, contact information, social security number, and current address.
3. Include property details: Provide all relevant information about the property in question, such as the address, type of property (e.g., single-family home, condominium), and any additional features or notable aspects of the property.
4. Financial information: Fill out the financial sections of the affidavit, disclosing your income, assets, and liabilities. This may include details about your employment, monthly income, savings accounts, investments, outstanding debts, and other financial obligations.
5. Explain hardship: One crucial section of the short sale affidavit is where you explain the financial hardship that led to your decision to pursue a short sale. Be as thorough and detailed as possible, providing supporting documentation if available. Make sure to include any involuntary financial events like job loss, divorce, medical emergencies, or other circumstances that have impacted your ability to pay your mortgage.
6. Sign and date the affidavit: Once you have completed all the necessary sections and reviewed the information for accuracy, sign and date the affidavit. By signing this document, you confirm that the information provided is true and accurate to the best of your knowledge.

Who needs a short sale affidavit?

1. Homeowners facing financial hardship: Individuals who are struggling to meet their mortgage payments due to financial hardship may need to complete a short sale affidavit. This can include situations such as job loss, reduced income, divorce, medical emergencies, or other circumstances that impact their ability to pay their mortgage.
2. Lenders and financial institutions: Lenders and financial institutions require homeowners to submit a short sale affidavit as part of the short sale process. This document helps lenders assess the homeowner's financial situation and determine whether a short sale is a viable solution.
3. Real estate agents and professionals: Real estate agents and other professionals involved in the short sale process may need a short sale affidavit to assist in guiding homeowners through the necessary steps. This document helps ensure that all required information is provided accurately and helps facilitate the transaction smoothly.

Note: The specific requirements for a short sale affidavit may vary depending on the lender and the jurisdiction. It is essential to consult with your lender or a qualified professional to ensure that you are meeting all necessary requirements and obligations.

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What is short sale affidavit?

A short sale affidavit is a document that serves as a sworn statement by the seller of a property, declaring various details about the sale.

Who is required to file short sale affidavit?

The seller of a property involved in a short sale transaction is typically required to file a short sale affidavit.

How to fill out short sale affidavit?

To fill out a short sale affidavit, the seller must provide accurate information about the property, the sale price, and any other relevant details.

What is the purpose of short sale affidavit?

The purpose of a short sale affidavit is to confirm the details of the sale and provide assurance that all information provided is accurate.

What information must be reported on short sale affidavit?

Information such as the property address, sale price, buyer's information, and details about any liens or mortgages on the property must be reported on a short sale affidavit.