If you haven't already figured out what it may take, I will give you just a sneak peak about the kinds of documents you most likely will be required to present to your Realtor who will subsequently present them to your mortgage holder on your behalf. You can go to my website KeepYourWitz.Com, and look for more information at the top with the Robo-Signing Settlement tab (to see if you qualify for that help), or the bottom with a YouTube video which also describes a SS.
This is not what every lender will ask for, but this will give you a sample of what you may need to be prepared to turn over.
1) Two most recent pay-stubs, for each borrower on the note
2) Verification of length of employment for each borrower on the note
3) Most recent bank statements, all accounts. Including 401, etc.
4) Most recent Tax Returns
5) Hardship Letter
6) Proof of medical disability or hardship to support your change in earning capacity
7) If self employed, current income statement, balance sheet and statement of owners equity
8) Documentation of any additional income
9) Completion of Financial Worksheet showing all income and expenses
The better prepared you are before you call your Realtor, the smoother the SS transaction will go. Don't kid yourself though. As a Certified Distressed Property Expert here in the Santa Clarita Valley, I've done my share of SS's.....it's a challenging process to say the least. As long as everyone is working towards the common goal, it is more likely to find completion.
For any information about Real Estate in Valencia, Saugus, Stevenson Ranch, Canyon Country, Newhall, Castaic, or any other areas of the Santa Clarita Valley, feel free to contact me. I will help you and your family in any way I can.