Short Sale Inventory List
The items listed below are the usual items that banks require to be submitted to them in order to consider a Short Sale application.
- Hardship Letter -Complete explanation of Hardship with specific request for assistance. Supporting Documentation -Any documentation to support hardship (i.e., employer Letter, medical records, etc.)
- Financial Statement -Form Attached, signed and dated Federal Income Tax Returns -Copy of 2 most recent years returns, complete with schedules
- W-2s Bank Statements -Copy of 3 most recent months statements: checking, savings, mutual funds, etc.
- Paycheck Stubs -Copy of 3 most recent for each mortgagor Disability, Unemployment -Copy of any benefits applied for or received. Include copy Retirement and/or of check stubs for any or all that apply
- Social Security Junior Lien holders- Release and/or negotiate junior lien balance(s) outside the sales proceeds
- Listing Agreement -Copy of signed listing agreement Purchase Contract
- Copy of accepted offer signed by both Buyer and Seller Net Sheet -Estimate of Closing Costs Marketing Efforts -any documentation showing what marketing efforts were undertaken (how long listed, what price, condition of property, etc.)
In addition to the above, the lender may provide other forms that it requires to be included with the package.
