1. Hardship Letter (Hardship Example)
2. Copies of 2 most recent Pay Stubs or 1099s or unemployment check or letter
3. Copies of 2 most recent Bank Statements, just one account
4. Copy of 2 most recent IRS Tax Returns with W2s or P&L Statment or Letter
5. Seller’s Monthly Loan Statement from each bank
6. Copy of Property Tax Bill (helpful)
7. The HUD - Closing paper work from when you purchased the house (helpful)

*All information must be provided or a signed letter for each document stating why it is not.

• Authorization to Release Lending Information (One for each loan)
• Affidavit of Understanding (Needs to be Notarized)
• Option Contract for Sale and Purchase (We will send to you)
• Notice of Contract for Sale and Purchase (We will send to you)
• Listing Agreement (A Realtor we will provide you one)

Download Starter Package HERE. Download the Check List HERE

• GMAC Homeowners Short Sale & Loan Modification Help Website Page.
• REPAYMENT PLAN:
  A repayment plan allows you to make a regular payment plus a portion of the amount past due each month over a period of months. The repayment plan is based on the financial information provided and it may require a deposit toward the amount past due.
• LOAN MODIFICATION:
  This option is commonly used when there has been a temporary reduction in income or an increase in expenses. We have many types of modifications, including those offered under the Making Home Affordable program. An effective loan modification will lower your monthly mortgage payments and cure any delinquencies on the account.
• SHORT SALE:
  Selling your home is one solution when there is long-term difficulty making the payments. Unfortunately, property values can decline, causing a difference between the current market value and what is owed on the loan. The investor may accept less than the total amount rather than pursuing a foreclosure. We may request a contribution be made to reduce the total loss. You must list the property for sale at the fair market value and forward any offers to us for consideration. Please note: Acceptance of any offer will be subject to investor approval and the maximum commission the investor will honor is 5% for transactions involving two brokers, 3% for a single broker transaction.
• DEED IN LIEU OF FORECLOSURE (DIL):
  If all available options have failed and you are unable to sell your house, you may be allowed to sign title to the property over to us. You must have clear title to the home with the exception of the first lien.
• If you think you may need our help, please contact us right away. Again, you can call us at 1.866.899.5308, or fax your financial analysis form to 1.866.709.4744. Completing the financial form will help us assess which type of plan would best fit your situation.