Documentation Required for a Short Sale

Documentation Required for a Short Sale


What documents do I need as a Homeowner when Doing a Short Sale? 



Upon listing your home with a Real Estate Agent, you will need to supply your lender with a short sale package which includes

Documentation Required for a Short Sale

Know Your Short Sale Real Estate Agent

tons of your financial information and paperwork.  Being timely on getting it to the lender is what your agent is charged with doing.   This is an important point – ensure you are using a real estate agent who is experienced in the short sale process and all the ins and outs.


As a North Kingstown short sale agent, I work with a legal and short sale negotiating team that gets short sales done in RI real estate. If you are behind on your mortgage or have a hardship, now is the time to call me to discuss your home sale options at 401.529.7849.


The sooner you get your financial documentation in order for the bank, the sooner the lender will start reviewing your file.  A Bank will not proceed with a short sale until they have all documents and paperwork they have requested from you.  If one piece is missing, your file sits unread until all documentation is submitted to the Bank.  This is VERY important to understand.

Also, understand that you do not need to pay anyone to proceed with the short sale process.  AT ALL!  If someone (an attorney or an agent) is asking you for money up front, immediately step away from them and find someone else.

Here is a list of what you will need to supply to your short sale agent, as follows:


  • The Hardship letter – in this letter to the lender from the homeowner you will explain the hardship being experienced, reasons why you can not continue to make mortgage payments and request a short sale on the home from the lender.  This letter should be as detailed as possible with dates and any documentation should be copied to be supplied with this letter.  It should be no longer than one page.
  • Bank Statements – the two most recent statements should be copied and provided to the lender.
  • Tax Returns – the two most recent year tax returns as well as W-2’s must be provided.
  • Work Pay Stubs – the two most recent pay stubs from work.
  • Current list and documentation of Financial Information:  bills, loan payments and household budget supporting the request for hardship status (hospital/and or medical  bills, unemployment status, etc.)
  • Market Analysis on your home from a real estate agent or an appraisal company supporting your current listed price.  All comparable home detail sheets of homes sold in your neighborhood or town are required for the last 3-6 months.
  • Real estate closing attorney needs to supply an estimated HUD-1 sheet showing the expenses related to the house sale with the homeowner receiving zero dollars or less when the transaction is complete.  My short sale negotiator will do this with the attorney representing you.
  • As a buyers’ offer is received on the listed home, a copy of the completed sales agreement with earnest money from the buyers plus loan commitment needs to be provided to the lender.
  • Authorization form for the real estate agent and the Attorney’s negotiator to work on the short sale on your behalf.

If you have stopped paying your mortgage, call me NOW!  Do NOT let the foreclosure process happen to you, there are alternatives and I can help you with them at no cost to you.  Do not go to anyone who is charging you monies to short sale your home.  Be aware that the bank holding your mortgage will roll the costs associated with the closing of your home (commission, water/sewer bill, and legal fees) into the negotiated price.  You, as the seller, do not need to have to pay for these costs at settlement.


Ginny Lacey Gorman is a North Kingstown RI short sale agent helping RI property owners .  Working exclusively for you, the seller, to push the sale through the lenders process with a negotiator and legal team.  I work hard for my clients in getting  the house to the closing table successfully.   Call me at 401-529-7849 to have a confidential conversation with me if you are upside down on your mortgage or have a hardship and can not meet your mortgage payments.  Let’s discuss what next steps you need to take.  Documentation Required for a Short Sale.


 Ginny Lacey Gorman is your go to waterfront RI real estate agent for real estate in Rhode Island and beyond…knowing the geographic area, schools, happenings, important tidbits of information and businesses well.

 As a RI short sale agent, if you are having trouble paying your mortgage contact Ginny to help you through the short sale process successfully.

Waterfront, oceanfront, luxury and coastal RI real estate are her specialty but all of RI is her backyard.  When you are in need of a good professional for your buying and selling needs and an internet savvy agent who sells RI houses in this real estate market – call Ginny at 401.529.7849 or email me at