Lenders will typically require a distressed borrower to furnish a variety of documents, which could include the following. This is a compiled list and will vary with each lender:
Written explanation (and proof) of the hardship the borrower is experiencing;
Copy of the purchase contract signed by both the buyer and seller (borrower);
Copy of the TDS;
Proof of the buyer’s ability to purchase the property, i.e., a completed loan application, pre-approval by another lender, or evidence of cash on hand (bank statement);
Copy of the certified escrow instructions;
Preliminary title report;
Estimated net/closing statement certified by an escrow officer acceptable to the lender;
Completed and signed IRS Form 4506, “Request for Copy of Tax Form;”
Completed and signed personal financial worksheet;
Previous two years tax returns;
Employment paycheck stubs for the past two months;
Profit and loss statement (if the borrower is self-employed);
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