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Do I have to fill out the 4056T if I am a seller in a Short Sale?

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debi524 Joined: 02 Feb 2011 Posts: 1 1.32 Dollars($)	Posted: Wed Feb 02, 2011 2:14 pm    Post subject: Do I have to fill out the 4056T if I am a seller in a Short Like 0 Dislike 0 I have BofA and am trying to get a short sale to go through. My realtor is saying that if I don't fill this out that they will not approve the short sale. I don't see how or why the bank needs this information from a seller. I mean they already have my W-2's, SS#, paycheck stubs, last 2 tax returns, bank statements, etc. why do they need this information. The request has left me EXTREMELY wary.
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Wed Feb 02, 2011 2:22 pm    Post subject: Like 0 Dislike 0 My short sale experience is negligible, but frankly, nothing would surprise me. I can't begin to explain why a lender on the selling side would want a 4506T signed, but I'm sure it's not because they want it for themselves. It would more likely be an investor-driven condition, i.e. Fannie or Freddie (or whoever else it might be) requiring it - simply because of the nature of the transaction. Purchasers now must sign one at application and again at closing. Why two? I don't have that answer, but again, I'm not surprised at most of what takes place in the mortgage industry any more. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044

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