- The proposal letter should be clear and concise giving the needed information to the bank.
- It should not be more than one page.
- It should include an overview of the homeowners' situation, what they owe on the property, and what the property is worth.
- The proposal letter should also identify the amount of the needed repairs and what the offer to the banks is.
- A list of the contents of the short-sale package in the proposal letter or a "contents page" to facilitate the review of the file.