Get the free SHORT SALE INFORMATION PACKET

**CLOSING TO OCCUR WITHIN 60 DAYS OF APPROVAL** Contract Addendum Contract Information Loan number: Sellers: Buyers: Property Address: Dated: / / This Addendum to Contract is entered into and is effective

How to fill out short sale information packet

How to fill out a short sale information packet:

1. Gather all necessary documents: Start by collecting all the required documents for the short sale information packet. This typically includes financial statements, tax returns, bank statements, pay stubs, and hardship letters.
2. Review and complete the financial statements: Carefully review the financial statement forms provided in the packet. Fill out the forms accurately, providing detailed information about your income, assets, and liabilities.
3. Organize supporting documents: Attach all supporting documents to the appropriate sections of the packet. Make sure to label each document clearly and include any additional documentation that may be requested.
4. Fill out the hardship letter: This is a crucial part of the short sale information packet. Write a sincere and detailed letter explaining your financial hardship and the reasons for pursuing a short sale. Be sure to include any supporting documentation, such as medical bills or job loss letters.
5. Complete any additional forms: Some short sale information packets may include additional forms specific to your lender or the particular short sale process. Read through these forms carefully and provide all requested information.

Who needs a short sale information packet?

1. Homeowners facing financial hardship: Those who are struggling to make mortgage payments and believe that a short sale could be a viable option to avoid foreclosure may need a short sale information packet. This packet is typically required by the lender to evaluate the homeowner's eligibility for a short sale.
2. Real estate agents: Agents representing homeowners who are considering a short sale may need the information packet to assist their clients in gathering and completing all the necessary paperwork.
3. Lenders: The short sale information packet is required by lenders to assess the homeowner's financial situation and determine if a short sale is a suitable solution. Lenders also rely on the information provided in the packet to evaluate potential buyers and approve the short sale transaction.

In summary, filling out a short sale information packet involves gathering the required documents, completing financial statements, organizing supporting documents, writing a hardship letter, and filling out any additional forms specific to the lender. Homeowners facing financial hardship, real estate agents, and lenders are the key individuals who may need a short sale information packet.

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What is short sale information packet?

Short sale information packet is a collection of documents and forms required to be submitted to a lender when selling a property for less than the amount owed on the mortgage.

Who is required to file short sale information packet?

Homeowners who are selling their property for less than the amount owed on the mortgage are required to file the short sale information packet.

How to fill out short sale information packet?

The short sale information packet must be filled out accurately and completely with all required information, including details about the property, the seller, the mortgage lender, and the proposed sale.

What is the purpose of short sale information packet?

The purpose of the short sale information packet is to provide the lender with all the necessary information to approve the sale of the property for less than the outstanding mortgage balance.

What information must be reported on short sale information packet?

The short sale information packet must include details about the property, the seller, the mortgage lender, the proposed sale price, any outstanding liens or judgments, and the reason for the short sale.