what does short sale needs lender approval mean
You can't do a short sale without the lender's approval. If a short sale is possible, ask what documentation you'll need to seek approval. The typical short sale documentation package requires: 1  A hardship letter that explains why you can no longer repay your mortgage.ith a short sale, you accept an offer on your home that's less than what you owe on your mortgage and your lender forgives the remaining debt -- the difference between your mortgage balance and the net proceeds from the sale.