What constitutes a short sale package?
• Letter of Authorization – signed by the seller that authorizes the lender to convey information to the lisitng agent or the agent’s designate reagrding the loan • Loan Information – signed by the seller that provides the name of the lender, contact numbers, address, loan number, balance of the loan, and if a notice of default was already filed A separate form is required for each lender • Loan payment coupon — one for each lender, showing most current mortgage statement or current balance • Hardship letter — the more detailed the better. Indicate the reason(s) for the default, when the hardship started • Seller’s personal financials — this will take time, but this is necessary to provide background info on the seller’s finances, current obligations, and ability to meet those obligations. Required are: • Financial statement showing income and expenses — include everything that seller pays for (household expenses for food, utilities, car payments, insurance, child care if applica
