There are documents that need to be gathered to get the process in full gear. Keep in mind you are asking for a discount from the lender on a purchase you did in the past, a mortgage that you agreed upon prior so the lender needs all the verification again as too why you feel that you need to short sale on this loan and why they need to agree to it..
1) Last 2 Bank Statements from all accounts
2) Financial Statement
3) W-2’s the previous 2 years
4) Tax Returns 2 years
5) Hardship Letter
6) Other Account information IRS’s, 401k, Money Markets
7) Current Utility Bills
8) Other Pertinent information: Divorce, Disability, Death, Bankruptcy Filing
9) Need to verify that all owners can be present for the closing
There will also be additional information and documents needed as the process goes on.
It is best to get this information together ahead of time to keep the transaction moving.