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SOLID IS HERE TO HELP Short Sale Guide Entrust Mortgage, Inc. (STM) is dedicated to careful counseling and responsible lending, and we view foreclosure as the last resort for customers experiencing

How to fill out suntrust short sale package

How to fill out SunTrust short sale package:

1. Gather all necessary documents: Start by collecting all required documentation for the SunTrust short sale package. This may include financial statements, tax returns, bank statements, hardship letter, and a purchase contract, among other documents. Make sure to review the specific requirements outlined by SunTrust to ensure you have all the necessary paperwork.
2. Complete the required forms: Fill out all the forms included in the SunTrust short sale package accurately and thoroughly. This may include the borrower's authorization form, financial statement, SunTrust short sale addendum, and any other forms specific to your situation. Take your time to ensure all information provided is correct and up-to-date.
3. Submit supporting documentation: Alongside the completed forms, include any supporting documentation required by SunTrust. This might include proof of income, hardship documentation, tax returns, and bank statements. Be sure to organize and label all documents clearly for easy review by the SunTrust short sale department.
4. Write a comprehensive hardship letter: One crucial component of the SunTrust short sale package is the hardship letter. This letter explains the circumstances that led to your financial hardship and why a short sale is the best solution. Take the time to compose a well-written and detailed hardship letter, emphasizing your financial struggles and the reasons for requesting a short sale.
5. Follow submission instructions: Carefully review the submission instructions provided by SunTrust. Ensure that you have included all required documents and that everything is properly filled out. Double-check for any additional forms or documentation that may be needed before submitting the complete package.

Who needs SunTrust short sale package?

Individuals who are facing financial hardship and are unable to keep up with their mortgage payments may need a SunTrust short sale package. This could include homeowners who have experienced job loss, divorce, medical emergencies, or other significant life events that have affected their ability to make mortgage payments. In such cases, a short sale can be an option to avoid foreclosure and alleviate the financial burden.

For pdfFiller’s FAQs

What is suntrust short sale package?

The SunTrust Short Sale package is a collection of documents and forms that need to be completed and submitted to SunTrust bank when a homeowner wishes to sell their property for less than the outstanding mortgage balance.

Who is required to file suntrust short sale package?

Homeowners who are facing financial hardship and need to sell their property for less than the mortgage balance are required to file the SunTrust Short Sale package.

How to fill out suntrust short sale package?

The SunTrust Short Sale package can be filled out by following the instructions provided by SunTrust bank. It typically involves completing forms related to the homeowner's financial situation, providing documentation of income and assets, and disclosing any liens or encumbrances on the property.

What is the purpose of suntrust short sale package?

The purpose of the SunTrust Short Sale package is to provide the bank with all the necessary information and documentation to evaluate the homeowner's eligibility for a short sale. It helps the bank determine if selling the property for less than the mortgage balance is a viable option.

What information must be reported on suntrust short sale package?

The SunTrust Short Sale package typically requires the homeowner to provide information such as their contact details, financial hardship explanation, income and expense statements, bank statements, tax returns, and an authorization to release information.

Can I sign the suntrust short sale package electronically in Chrome?

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