If you are a South Jersey homeowner who is behind on your mortgage you may qualify for a short sale. A short sale can be completed if the homeowner had experienced a financial hardship and can no longer sell the home for more than what they owe on the home.
In South Jersey, there are many homes listed for sale, and some even advertised as short sales. However, not all homes qualify for a short sale, and if you are considering listing your home for sale as a short sale, you should make sure that the realtor you have chosen to work with is a Certified Distressed Property Expert, or more commonly, a CDPE. These realtors have undergone extensive training in these types of transactions, and will be able to help you in selling your home via short sale in South Jersey.
Before getting started, there are a few items that you will need:
Two months most recent mortgage statements (all mortgages)
Two months checking account statements (all borrowers if separate)
Two months savings account statements (all borrowers if separate)
Two months other account statements (all borrowers if separate)
Last two paycheck stubs (all borrowers)
Two years tax returns
IRS Form 4506 Request for Copy of Tax Return
Financial worksheet (basically a list of all of your monthly expenses vs monthly income)
Keep in mind throughout the transaction you will need to make sure that your CDPE realtor is up to date with pay stubs as well as bank balances that are never more than 30 days old.
For more specific information on qualifying for a short sale in South Jersey, make sure to reach out directly to a CDPE Realtor.