Get the free Short Sale Package

Short Sale Package Dear Homeowner: Prior to taking your Short Sale listing, the following documents are needed for every Borrower that is on the loan(s). Please do not send over an incomplete package;

How to fill out short sale package

How to fill out short sale package:

1. Gather all necessary documents such as financial statements, tax returns, bank statements, and a hardship letter explaining why you are unable to continue making mortgage payments.
2. Complete the required forms provided by your lender, including a financial worksheet, property disclosure forms, and an authorization letter allowing the lender to communicate with third parties involved in the short sale process.
3. Review the instructions provided by your lender to ensure you are filling out the forms correctly and providing all requested information.
4. Double-check all the information you have provided in the package to ensure accuracy and completeness.
5. Submit the completed short sale package to your lender either electronically or via mail, following their specific instructions.

Who needs a short sale package:

1. Homeowners facing financial hardship and are unable to keep up with mortgage payments.
2. Individuals looking to avoid foreclosure and negotiate with their lender to sell their property for less than what is owed on the mortgage.
3. Homeowners who have explored other options such as loan modification or refinancing but have been unsuccessful in finding a viable solution to their financial difficulties.
4. Real estate agents or individuals assisting homeowners in the short sale process, as they will need the package to negotiate with the lender on behalf of the homeowner.

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What is short sale package?

A short sale package is a collection of documents that includes financial information, hardship letter, and other required forms submitted by a borrower to a lender when seeking approval for a short sale of their property.

Who is required to file short sale package?

The borrower who wishes to sell their property through a short sale is required to file a short sale package with their lender.

How to fill out short sale package?

To fill out a short sale package, the borrower needs to gather all the necessary documents as specified by their lender, including financial statements, tax returns, hardship letter, and other relevant forms. The completed forms should be filled accurately with the required information.

What is the purpose of short sale package?

The purpose of a short sale package is to provide the borrower's lender with the essential information necessary to evaluate the borrower's financial situation and determine whether approving a short sale is appropriate.

What information must be reported on short sale package?

The short sale package typically requires the borrower to report their financial information, such as income, expenses, assets, and debts, along with a hardship letter explaining the reasons for their inability to continue making mortgage payments.