CHICAGO SHORT SALES| BANK OF AMERICA SHORT SALES DOCUMENTS
In todays Chicago Short Sales blog post, I am covering what documents are required by Bank Of America for their Short Sales Package. If you are a loyal reader of my Chicago Short Sales blog or one of my clients, you are well aware of what a short sales package is, what documents are usually involved and how every bank has different requirements.
Currently, Bank of America is the leader in quantity of short sales deals ( They can thank Countrywide bank and the United States Government) They are swamped with short sale requests. The Bank of America Short Sales Package is definetely not shy of paperwork. If you are going to be doing a short sales with Bank of America, you are going to need the following
Bank Of America Short Sale Documents Needed
1) Last Two Year Tax Returns
2) IRS Form 4506-T
3) W-2
4) Last two months of Bank Statements (All Pages)
5) Hardship Letter
6) Financial Analysis Breakdown
7) Utility Bills
8) If you have been laid off, you are going to need documentation of this
9) Property Tax Bill
10) Last Two Check Stubs
11) Profit & Loss Statement If You Were|Are Self Employed
These are the documents you are going to need to provide to your realtor. Do not wait until you receive a offer on your property to get the ball rolling on getting all the documents needed for your short sale. BE PREPARED!!!
In addition to the above documents you are going to need to provide, your realtor is also going to have to send the:
1) Listing Agreement
2) Signed Purchase Contract
3) Buyers Information with the buyers names, addresses, birthdays and social security info
4) Comparable properties
5) The Listing History of your property
6) Preliminary HUD1 Statement
Dont lose your home to foreclosure!! Let my Chicago Short Sales Team help you avoid foreclosure and all the negative aspects a foreclosure brings. Contact us today to schedule a Free and Confidential consultation to see if a short sale will work for you! All you have to lose is Phone Call or Email!
