Get the free Short Sale Package - Group 4610

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: Collect all the required documents such as financial statements, bank statements, pay stubs, tax returns, hardship letter, and any other forms specified by your lender or real estate agent.
2. Review the instructions: Carefully read through the instructions provided with the short sale package. Understand the specific requirements and guidelines outlined by your lender to ensure you provide accurate information.
3. Complete the required forms: Begin filling out the necessary forms included in the short sale package. These forms typically include a financial statement, hardship affidavit, purchase agreement, letter of authorization, and any additional documentation relevant to your financial situation.
4. Provide accurate financial information: Be honest and accurate when filling out the financial statement and related forms. Include all your assets, liabilities, income, and expenses as requested. This information helps the lender assess your eligibility for a short sale.
5. Write a compelling hardship letter: Your hardship letter should detail the reasons why you are facing financial difficulties and why a short sale is necessary. Be honest, concise, and explain your situation clearly. This letter serves as an opportunity to emphasize your need for a short sale.
6. Review and double-check: Before submitting the completed short sale package, carefully review each form and document for accuracy. Ensure that all necessary signatures and supporting documents are included.
7. Submit the package to the appropriate parties: Submit the complete short sale package to your lender and/or real estate agent as specified. Follow any additional instructions given by them regarding submission and provide any requested additional documentation promptly.

Who needs a short sale package?

1. Homeowners facing financial hardship: Homeowners who are experiencing financial difficulties, such as job loss, medical expenses, divorce, or other circumstances that hinder their ability to make mortgage payments, may need a short sale package.
2. Real estate agents: Real estate agents working with clients who are unable to keep up with their mortgage payments and need to explore alternatives to foreclosure will require the short sale package.
3. Lenders and banks: Lenders and mortgage servicers require a short sale package to assess the homeowner's eligibility for a short sale and determine if it is a viable option to prevent foreclosure.

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What is short sale package?

A short sale package is a set of documents required by a lender in order to consider a short sale of a property.

Who is required to file short sale package?

The homeowner or the real estate agent representing the homeowner is usually required to file the short sale package.

How to fill out short sale package?

To fill out a short sale package, you need to gather all the necessary financial documents and complete the forms provided by the lender.

What is the purpose of short sale package?

The purpose of a short sale package is to provide the lender with information about the homeowner's financial situation and the circumstances that have led to the need for a short sale.

What information must be reported on short sale package?

The short sale package typically includes financial statements, hardship letter, purchase agreement, and other documents that demonstrate the homeowner's inability to continue making mortgage payments.