Are you scrambling to find all of the correct documentation that you need to assemble your short sale package? Do you even know what documents are required to be part of it? If this is the case for you, we suggest you seek out the help of a San Diego short sale expert immediately if you already haven’t done so. They will be able to provide you with a checklist of all documents that your specific lender requires when submitting your short sale package for approval.

If you haven’t gotten in contact with a short sale expert yet, here is a quick break down of what most lenders require in their short sale packages. Essentially, it’s all of the same documents that you were required to submit when you first applied for your mortgage, with a few added items. Your lender will request two month’s worth of bank statements, the two most recent paystubs for all parties listed on the mortgage, W-2’s and tax returns for the last two years and a hardship letter. When writing your hardship letter, which any short sale expert can help you with, you should explain the circumstances of your financial situation, why you need to get out of your home and why the lender should approve your short sale. It can be an intimidating thing to write, however if you are working with a short sale expert that has a lot of experience, they should be able to help you write one in no time.

Some lenders do have forms that are specific to their own company, such as Bank of America and Wells Fargo, so always ensure that you have a current checklist of documents that are required for assembling your short sale package. It’s imperative that you submit all of the correct documents from the get-go because if you don’t, it will delay the short sale process even further. Have a short sale expert double check your short sale package before you submit it to your lender because you don’t want to waste any time on getting rid of your underwater home.