What is a short sake “package”?
Most coming entities in the short sale package are as follows along with a brief description: • Hardship Letter – e.g. “I, trustor, cannot make my mortgage payments because… • Two most current checking account bank statements • Two most current paystubs – If you are self employed, they’ll need a letter substantiating that or, if you unemployed, there will need to be a letter written stating this. • Two most current tax returns (1040) • Monthly Income & Expense Statement – You’ll want to show your income against your expenses, most commonly showing the homeowners current insolvency. Fact: If you purchased or refinanced your home starting at the end of 2003 through 2006, you now owe more on the property than it is worth.
