Many people don't have a check list for their Short Sale Package. Here I would like to share with you the check list for a Short Sale Package for the lender. Anyone feels that I left an item out, please let me know. So, we can continue to help other people.
If anyone have any questions or need help in short sales in NJ area, please feel free to email me at email@example.com
Letter of Authorization (for the Realtor to represent on our Behalf)
Hardship Letter: Bank will want to know why you can no longer afford to make your monthly payment; just because your house is worth less from drop in market will not be sufficient.
Tax Returns (Last 2 Years)
Bank Statements (Last 3 Months)
Pay Stub (Last 4 Paychecks)
Monthly Expense Sheet
Proof of Income & Asset Statement: Including, IRA, Life Insurance, stocks and Bonds, savings accounts and other home equity lines
CMA (Houses Sold from the past 6 months)
Offer/Counter-offer (if applicable)
Estimated Net sheet (HUD-1) – the seller’s attorney will prepare this so the bank will know exactly what they will receive from a short sale net of costs
Pictures of the Repairs
Estimate of Repairs