When many lenders are slow to approve short sales, we have noticed lately that lenders have improved in their services for short sales.
In a short sale, you sell your property
In a foreclosure you lose your property
A short sale in NOT for those who want to sell. . it is only for those who have to sell.
In general,below are short sale requirements:
- A hardship letter explaining what circumstances caused you to be able to no longer afford the home
- Last two months bank statements
- One months of your most recent pay stubs
- Last 2 years tax returns and W-2's
- A financial statement which is available upon your request
It is important to remember that no one can guarantee you a short sale. . .but we will do our best to get them approved for you because we know how important this step is for your financial life
To see if a short sale can benefit you . .please go here.