Yes. However, be prepared to give the following:
Items you may need to submit with your request for a Short Sale:
1. Homeowner's Authorization Form
o Homeowner's Authorization Form, allowing Mortgage to converse and correspond with any and all parties involved in the processing of the Short Sale request.
o Must be signed by all parties to the Note.
o If a Homeowner's Authorization Form was previously submitted more than 60 days ago, a new form must be provided.
o Please be advised that if this completed form is not received, no action will be taken on your request.
2. Hardship Letter
o Provide a letter detailing the events which have made it difficult for you to make your payments.
o The letter must include the following:
§ The reason for the Short Sale request.
§ New addresses and phone numbers for all parties to the Note and Deed of Trust, if applicable.
3. Employment / Income Verification
o Provide a copy of the last 2 paycheck stubs for each party that signed the Note.
o If self employed, provide an income statement showing the past 2 months of income.
4. Financial Evaluation Form
o Financial Evaluation Form (detailing expected monthly expenses). Complete and include with your submission.
o Must be signed by all parties to the Note.
5. Bank Statements
o Provide a copy of the last 2 months of Bank Statements for all parties to the Note.
6. IRS Tax Returns
o Provide a copy of the last 2 years of IRS Tax Returns for all parties to the Note.
7. Payoff Statement
o Provide a copy of the payoff statement from the first lien and/or superior lien holders, if any.
8. Broker's Price Opinion
o Provide the value of the subject property, which includes comparable listings and sales.
o This is typically provided by your Realtor.
9. Copy of the Listing Agreement
o Provide a copy of the Listing Agreement, including the Realtor's fees/commissions.
10. Copy of the Sales Contract
o Provide a copy of the Sales Contract. Please be advised that no consideration will be given without an executed sales contract.
o All contracts should be contingent upon acceptance by EMC Mortgage Corporation if the net proceeds of the sale are less than the loan payoff amount.
11. Settlement Statement or HUD 1
o Provide a copy of the Settlement Statement or HUD 1, also known as Net Sheet, showing the exact amount EMC Mortgage Corporation will receive at closing and all parties receiving any form of a payout at closing.
o This is typically provided by the Realtor or Title Company.
12. Contact Information
o Provide your name, address, phone number, e-mail address and fax number.
o Also provide name and phone number of individual(s) who can allow access into the property to conduct an interior valuation.