The list is rather lengthy...Are you buying or selling?
The documentation for a seller is what is commonly known as a "hardship package" and each bank is unique..but structuring the "hardship package" requires an agent knowledgeable in short sales. If this package is not submitted properly it can almost worse than not submitting it at all.
If you need some help..check with a CDPE (Certified Distressed Property Expert)..though the certification implies "EXPERT" ..the education alone..Makes no one an expert..experience does. Each bank is unique in it's requirements of submission, negotiation, etc.
If I can help..let me know!
Erik J. Weisskopf, ABR,CDPE,CRS,GRI
Re/Max Distinctive Real Estate,INC
â€¢Â· Personal handwritten Hardship Letter - See Attached Example
â€¢Â· Authorization To Release Form (If Your Are Getting Help From A Professional)
â€¢Â· Last 2 Paycheck Stubs
â€¢Â· Last 2 months bank statements
â€¢Â· Two years of W2's (most recent)
â€¢Â· Last two years Tax Returns
â€¢Â· Detailed list of monthly expenses vs income
â€¢Â· Original Survey (if available)
â€¢Â· Signed listing agreement ( Need Realtor Listing)
â€¢Â· Copy of most recent appraisal ( if available)
â€¢Â· Recent Mortgage Statements (Both Copies -Two Loans)
â€¢Â· Hud Statement From Last Transaction (If Available)
In addition the bank will request:
2. A copy of the ratified sales contract
3. A copy of the sellers past 2 or 3 years of W-2's and tax returns
4. Most recent 2 months pay stubs
5. Most recent 90 days of bank statements from all accounts.
6. Letter explaining why you can no longer make payments on the home or why the need to sell. (Hardship Letter).
There are several reasons the bank will accept as a legitimate hardship: loss of primary family member, medical, job loss in which income is not able to be recouped based on economy, relocation for job where that job can not be replaced in the current area, sometimes divorce, and a few others.