Have you spoken with other homeowners in the area that have completed a Venice short sale and they mentioned something about putting together a short sale package for their lender? Did you pay no attention at the time and were now wishing you had because it seems like it may be important? The short sale package is one of the most important parts of completing a Venice short sale, but if you’re not familiar with it or what is included there’s no need to worry because we’re going to cover that with you today. Also, once you start working with a Venice short sale expert, they’ll review who your lender is and let you know what is required.
As with all Venice short sales, lenders require a few different financial documents. These include current pay stubs, bank statements and tax returns for all homeowners. Generally lenders ask for the two most render of each of these, but this could be different depending on who your lender is. Also required by all lenders is a hardship letter. The hardship letter is written by the homeowner and explains why they feel they need to complete a Venice short sale. Lenders are looking for information such as how the homeowner got into this situation and what they’ve tried to do to remedy it when writing your letter. If you need an example of a hardship letter most Venice short sale agents have one available for their customers. Lastly, some lenders also require their own specific forms to be included in the Venice short sale package.
It’s important that your Venice short sale package is submitted correctly and completely because if not it could delay the processing of your Venice short sale or it could not get approved. Your Venice short sale agent will go over the content of your short sale package with you to ensure its accuracy and completeness before submitting.