If you’ve started the process of selling your home on the Tucson short sale market or if you’re about to do so, you may be wondering what you need to include in the short sale package that your lender requires. While this often depends on your specific lender and what short sale programs they offer, there are certain items that generally all banks need.
Perhaps the most important piece of information that is required for your Tucson short sale package is the hardship letter. This letter is written by you, the homeowner, and is essentially your chance to explain why you need to complete a Tucson short sale on your home. Are you underwater, did you lose your job and are falling behind on your mortgage? Your lender is going to want to know why you’re unable to complete a traditional sale and what you’ve attempted to do to reconcile the problem.
Also included in the package to complete your Tucson short sale are financial documents, such as tax returns, paystubs, bank statements and W-2s. A bank is going to want to know how you stood financially over the past few years to help determine that you do qualify for a Tucson short sale. As previously mentioned, some lenders also have their own specific forms that they require in addition to the previously mentioned items.
If you’re nervous about writing a hardship letter or assembling the documents for your Tucson short sale, there’s no need to worry. Your Tucson short sale agent will look over everything before submitting it to your lender for approval. This is one of the most important steps in the Tucson short sale process so together with your agent it’s important that you have all of your bases covered and are submitting everything as accurately as possible.