Get the free Request for Short Sale Preliminary HUD 1

Request for Short Sale Preliminary HUD 1. Please complete the form below and email to SettlementTeam TitleMaxLLC.com or fax to (410) 286-8689. Property ...

How to fill out request for short sale

How to fill out a request for a short sale?

1. Gather all necessary financial documents, including bank statements, tax returns, pay stubs, and a hardship letter explaining your financial situation.
2. Contact your lender to inquire about their specific short sale request form or package. They may have specific documents or requirements that need to be included.
3. Complete the short sale request form thoroughly and accurately, taking care to provide all requested information. Make sure to double-check all details and ensure that all fields are filled out.
4. Attach all required supporting documents to your request, such as a listing agreement, purchase contract, and a broker's price opinion (BPO) or appraisal report.
5. If you are using a real estate agent or attorney to assist you with the short sale process, consult with them to review and finalize the request package.
6. Once the request is complete, submit it to your lender through their specified submission method, whether it be online, by mail, or in-person.
7. Follow up with your lender to confirm receipt of your request and to inquire about any additional steps or documentation that may be required.
8. Keep copies of all submitted documents for your records and for potential future reference.

Who needs a request for a short sale?

1. Homeowners who are facing financial hardship and are unable to continue making mortgage payments.
2. Homeowners who owe more on their mortgage than the current market value of their property.
3. Homeowners who have explored other options, such as loan modifications or refinancing, without success.
4. Homeowners who wish to avoid foreclosure and negotiate a sale of their property with their lender.

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What is request for short sale?

A request for short sale is a formal application submitted by a homeowner to a lender, asking for permission to sell the property for less than the amount owed on the mortgage.

Who is required to file request for short sale?

Homeowners who are facing financial hardship and can no longer afford their mortgage payments are required to file a request for short sale.

How to fill out request for short sale?

To fill out a request for short sale, homeowners typically need to provide financial documents, a hardship letter, and a purchase agreement from a potential buyer.

What is the purpose of request for short sale?

The purpose of a request for short sale is to seek approval from the lender to sell the property at a lower price in order to avoid foreclosure.

What information must be reported on request for short sale?

Information such as the homeowner's financial hardship, financial documents, purchase agreement, and proposed selling price must be reported on a request for short sale.