Get Understanding Of Short Sale Transaction Affidavit & Disclosure 2013-2025

Navigating the process of completing the Understanding Of Short Sale Transaction Affidavit & Disclosure can seem daunting. This guide provides a clear and supportive walkthrough for users, ensuring you understand each section of the affidavit when filling it out online.

Follow the steps to successfully complete the affidavit

1. Press the ‘Get Form’ button to retrieve the Understanding Of Short Sale Transaction Affidavit & Disclosure. This will open the form in your preferred editor.
2. Begin by filling in the 'Loan Number' at the top of the document. This number is essential for identifying your mortgage and will be used throughout the process.
3. Next, provide the full 'Property Address' where the short sale is taking place. This ensures clarity regarding which property the acknowledgment pertains to.
4. Fill in your name as the 'Borrower' in the designated section. If applicable, include the name of a 'Co-Borrower' as well.
5. In the acknowledgment section, confirm that you understand the reason for pursuing a short sale due to a prolonged severe hardship. Ensure that you clearly outline your circumstances, affirming that a temporary repayment plan, forbearance agreement, or mortgage modification is not feasible.
6. Indicate that you have little to no equity in the property. This is crucial for the lender's understanding of your financial situation.
7. Identify your designated representative or agent in the specified area. This person will assist you in finding a buyer and negotiating with your lender.
8. Acknowledge that you understand the implications of a short sale, specifically that if your representative is unable to secure lender approval, foreclosure may proceed.
9. Sign and date the document where indicated for both the borrower and co-borrower, if applicable. This confirms your understanding and agreement with the terms of the affidavit.
10. Once you have completed all sections, make sure to save your changes. You can then download, print, or share the completed Understanding Of Short Sale Transaction Affidavit & Disclosure as needed.

Complete your short sale documents online today for a smoother process.