Get the free Request for Short Sale - San Diego Housing Commission

REQUEST FOR SHORT SALE Owner Information: Date: Owner: Corner: SDC Loan No(s): Home/Cell Phone No.: Property Address: STREET, CITY, STATE, ZIP CODE Email Address: Realtor Information: Name: Office/Cell

How to fill out request for short sale

How to fill out a request for a short sale:

1. Gather the necessary paperwork: Before starting the short sale request, you will need to gather important documents such as financial statements, bank statements, pay stubs, tax returns, and any additional information that lenders typically request for a short sale application.
2. Contact the lender: It is crucial to reach out to your mortgage lender to inform them about your intention to pursue a short sale. Ask them about their specific short sale request process and request any necessary forms or application packages they may have.
3. Fill out the necessary forms: Once you have obtained the required forms from your lender, carefully review the instructions and fill out each form accurately and completely. Double-check the information provided to ensure there are no mistakes or missing details.
4. Write a hardship letter: Along with the forms, you will likely be required to write a hardship letter. This is your opportunity to explain your financial situation and the reasons why you are unable to continue making mortgage payments. Be honest and concise in your letter, providing supporting documentation if necessary.
5. Include supporting documents: In addition to the completed forms and hardship letter, you may need to include supporting documents like bank statements, tax returns, and proof of income or lack thereof. Make sure to follow the lender's instructions regarding the specific documents they require.
6. Submit the completed request: Once you have filled out all the necessary paperwork and gathered all the required documents, submit the complete short sale request to your mortgage lender. Follow their preferred method of submission, whether it is through mail, fax, or an online portal.

Who needs a request for a short sale?

1. Homeowners facing financial hardship: A request for a short sale is typically needed by homeowners who are experiencing financial difficulties and are unable to continue making mortgage payments. It provides them with the opportunity to sell their property for less than what is owed on the mortgage.
2. Lenders and mortgage servicers: Lenders and mortgage servicers require a request for a short sale from homeowners as it is part of the process for considering a short sale. It helps them determine whether the homeowner meets their eligibility criteria and if a short sale is a viable option.
3. Real estate agents and brokers: Real estate agents and brokers involved in the short sale process also need the request for a short sale. It provides them with the necessary information and documentation to assist homeowners in listing and marketing the property for sale.
4. Potential buyers: When a property is listed as a short sale, potential buyers need to be aware of the request for a short sale. This helps them understand the unique circumstances surrounding the sale and navigate the process accordingly.

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What is request for short sale?

A request for short sale is a formal request by a borrower to a lender to sell a property for less than what is owed on the mortgage.

Who is required to file request for short sale?

The borrower who is looking to sell their property for less than the mortgage amount owed is required to file the request for short sale.

How to fill out request for short sale?

To fill out a request for short sale, the borrower must provide financial documentation, a hardship letter, and the purchase agreement.

What is the purpose of request for short sale?

The purpose of a request for short sale is to allow the borrower to sell their property at a lower price in order to avoid foreclosure.

What information must be reported on request for short sale?

The request for short sale must include the borrower's financial information, property details, reason for requesting a short sale, and the proposed sale price.