Frequently Asked Questions

 


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

A: 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 2 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
  • 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)








Steven T. Decker is an experienced real estate lawyer, author and speaker.  With over 20 years of experience, Steven represents individuals and investors in the purchase of residential and commercial real property.  Steven is the author of "The Five Myths that can Ruin the Purchase of Your Home" and he is the publisher of the "New York Real Estate Law Blog".  If you are buying or selling a home or commercial property in Staten Island, New York City or New Jersey contact Steven T. Decker, Esq. to discuss the services that he offers and how his legal representation will assist you.


IMPORTANT DISCLAIMER: The information contained on this website is provided for general educational purposes only, should not be relied on as legal advice and does not serve to create an attorney client relationship. In utilizing this website you acknowledge that there is no attorney client relationship between you and Steven T. Decker, Esq. and that the information contained on this site does not and cannot serve as a replacement for the competent legal advice of a licensed attorney in your state. The content of this website is subject to the Copyright of its author, Steven T. Decker, Esq.
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Decker, Decker, Dito & Internicola
1610 Richmond Road
Staten Island, NY 10304
Phone: (718) 979-4300
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