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When you are looking to do a short sale on your home, your lender will ask you to prepare some documentation. Once you have signed a 3rd party authorization we can then begin to communicate with your lender and provide your documentation to them directly. Here are the items we need from you to submit to your lender:

• Hardship Letter  Request a short sale for the property and detail the circumstances that prevent you from meeting your mortgage obligations – loss of income, loss of employment, shortened hours, reduction in pay, illness, medical bills, re-location, etc. Letter must include the loan number, last 4 digits of social security number, date and signature. We have examples on our website: http://eastbayshortsalegroup.com/short-sales/how-to-write-a-short-sale-hardship-letter

• Copy of HOA Statement  (if applicable)

• RMA: (Request for Mortgage Assistance)

• Last 2 years Federal Tax Returns-  Including all scheduled & W-2’s. Return must be signed.

• Most recent 2 months bank account statements  All pages including blank pages.

• Proof of income for each person on the loan

Most recent 2 months paystubs

If self employed, last 6 months profit & loss statement and tax return

If receiving social security or disability benefits – copy of benefit letter

If receiving unemployment – 2 recent check stubs or benefit letter

*pay stubs & account statements may be required throughout the short sale process.

• Signed 4506-T  tax form

• 3rd Party Authorization (the first document that must be provided

Keep in mind that even if you have previously applied for a loan modification with your lender and have already provided this documentation, the bank’s loan mod department does not transfer paperwork to the short sale department, and in most cases that documentation is outdated. Current full documentation must be provided to us  to send to your lender as part of the short sale application process.

Contact us for more info on how this works.