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What documents do I need to give to my bank for short sale approval?

Most banks require the following items (if anything else is required your bank will advise you):
  • Last 2 years of federal and state tax returns
  • Last 4 paycheck stubs
  • Last 2 months checking account statements
  • Last 2 months savings account statements
  • Last 2 months of any additional bank account or investment statements
  • Last 2 mortgage statements 1st and 2nd If a second
  • A financial worksheet showing your income and expenses
  • A hardship letter (a letter explaining your situation to the bank so they understand what situation has occurred that is causing you to not be able to maintain your monthly mortgage payments and why you are requesting a short sale)
  • Appraisal report
  • A preliminary HUD-1 (this will allow the bank to see what expenses the seller owes for the closing process such as attorney fees, broker fees and city or state taxes)
  • HOA Pay Off Letter if any
  • Real Estate Contract for listing
  • Real Estate contract for Sale
  • Buyer Mortgage approval letter of POF
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