Whats entailed?
The primary objective of the borrower at this time is to convince the lender that they do not have sufficient money / assets to make the payments. After contacting the lender to inform them of their intention to seek a short sale, it is commonplace for the borrower to gather and submit the following documents; letter of authorization, estimated closing statement, hardship letter, proof of income and assets, copies of bank statements, comparative market analysis.
