I just listed a new short sale with a 1st serviced by GMAC. My homeowner got a letter from the servicer suggesting that the homeowner try to sell the home and that they log on to Equator.com to find a local agent in their area. There is a package list for both scenarios

1) without an offer

- Listing agreement

- 2nd lienholder info/balance

-LOA

-Hardship letter

-Financial Analysis form

2) with an offer

-Listing agreement

- 2nd lienholder info/balance

- Purchase contract

- HUD 1 with Title company name address & contact info incl. fax number, Buyer's name, Line 603 of the HUD-1 as $0.00, Line 504 should be NET to mortgage company, Line 505 should be negotiated payoff to 2nd, and lines 700-704 of HUD must have both agent names and license numbers.

- Earnest $$ check

-LOA

-Hardship letter

-Financial Analysis form

- Last 2 paystubs or P&L, last 2 tax returns, last 2 bank statements

This was new to me so I figured I would share.