River North Short Sales| Chase Bank Short Sales| Chase Bank Short Sales Packet Requirements

Chicago Short Sales| Chase Bank Short Sales| Chase Bank Short Sales Packet Requirements

Todays River North Real Estate blog post topic is what Chase Bank requires for their short sales package.  As I have stated in previous River North Real Estate blog posts, every bank has different requirements as far as what they want in their short sale packages.  Granted there are certain requirements that every bank asks for in relation to their short sale packages, but there are certain items that some banks ask for while others dont

The following is what Chase Bank requires for their Short Sale Information Package

1) Two most recent pay stubs ( 2 for each borrower if W-2)
2) Length of service with current employer (if employed)
3) Two  most current Savings/Checking  statements
4) Last two years of Tax Returns
5) Current Utility Bill ( for proof of occupency)
6) Completed 4506-T request for transcript of Tax Retur
7) Hardship Letter
8) Completed request for Consideration of Short Sale Form

9) If the loan is Non Escrowed
     A) Copy of the most recent property tax bill with a copy of the cancelled check for all
           applicable taxes
     B) Copy of the current insurance declaration page
     C) Proof of payment of Homeowners Association Fee (if applicable)

10) If Non-Owner Occupied
    A) Rental income with copies of rental agreement if a tenant resides in property
    B) Amount of principal, interest , insurance, and homeowner dues for primary residence
    C) Primary Residence Address 

11) 1099

12) If You Are Self Employed
   A) Profit and Loss Statement/Audited or reviewed YTD income statement
   B) Last two year Income Tax Return, 1099's
   C) Last 4 months complete business and personal bank statements

In addition to these items, your realtor will need to provide the bank the follwing:

1) 3rd Pary Authorization Letter
2) Signed Listing Agreement
3) Sales Contract
4) Detailed listing history of your property
5) 3 Comparable Active and Sold Listings
6) Preliminary Hud-1 Statement 

For More Information Click On The Chase Bank Short Sales Page Link

 

Comments

[mark reynolds]

I hereby authorize {Name} to collect my new checkbook and represent me in regards to my bank account, {bank account number}, as I will be unable to make my appearance at the bank in person. This authorization is valid until I provide written notice stating otherwise.

[Christina]

That's not even 10 minuets well spent!

[j kontos]

what in this post was not time well spend?

[VimaxBr4]

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