Legal Question in Real Estate Law in Arizona

You are not obligated to give the lender financial statements, however, the lender is not legally obligated to agree to a short sale. It is a process of negotiation. You must be represented by an experienced real estate agent and/or attorney in order to avoid the problems in accomplishing a short sale, and to be sure that you do not suffer a foreclosure while trying to complete a short sale. Be aware that you may be dealing with a collection dept. of your lender and not really dealing with the short sale dept. Even if the lender agrees to a short sale, be aware that they often will ask you for money or to sign a promissory note, the day before the sale is to close.