In order to successfully complete a short sale, you must document two primary components – First and foremost, you must prove inability to make the payments. You don’t have to be totally dead broke, but it helps.
Secondly, you must prove beyond the shadow of a doubt that the property is worth no more than the offered price on the purchase contract. If this sounds too easy, there’s a reason. The completed package that is submitted to the lender for approval may easily top 150 pages and can take 30 or more hours to compile. A brief phone call can help us determine if you may qualify.