Making a decision to do a Short Sale is a big step in your financial portfolio.
The first thing I recomend is seek legal advise as to what you need to do and how it is going to affect you in the future.
Once you have spoken with an Attorney contact your Realtor. We are there to guide you thru the process and let you know what will need to be done to prepare and put your home on the market and get a contract.
Also keep in mind that your lender is going to need financial information to get the process going.
Hardship letter as to why you need to do a short sale
Bank Statements for the past 2 months as well as your last 2 years of Tax Returns.
You will also need to provide a current financial statement.
Once this information is together you can forward it to the lender. Some will start the process in advance just to have it on file.
However the majority of the lenders will not take the information until you have an offer signed on the proerty. All lenders are different so make sure you pay close attention as to how they want the information provided.
This is a step by step process and if followed correctly will get you to the sale of your home.
For further informaion or a private consultation please feel free to contact me.