Short Sale Information Gathering



Three most recent bank statements for all checking accounts for all borrowers



Three most recent bank statements for all savings accounts for all borrowers



W2s from the past two years for all borrowers



Income tax returns from the past two years for all borrowers



Past three paycheck stubs for all borrowers



Copies of all bills for all borrowers from the past two months. Will be used to compile a financial worksheet. Could include:



Hardship letter that describes succinctly yet persuasively why the homeowner was unable to meet his or her loan payments. The homeowner must write the hardship letter.



Documentation of hardship. Documentation may include:



Information about any additional liens on the home. The homeowner may have this information. Ask the homeowner if he or she has a recent credit report. Alternately, a present owner search would reveal whether there are any additional liens.



Recent Comparative Market Analysis (CMA)



Estimated HUD-1



Estimates for any necessary repairs to the home.



Most recent property tax bill and proof of payment status



Proof of homeowner’s insurance coverage



Monthly statements from the first and second lenders



Name of supervisor in Loss Mitigation department



Direct phone number for Loss Mitigation department



Short sale application from the lender



Written authorization from the homeowner for the Realtor to speak on his or her behalf

If homeowner filed for bankruptcy, name and number of bankruptcy attorney

If homeowner is in a law suit, name and number of attorneys