Which document must a homeowner sign to allow the lender to proceed with a short sale?

Prepare for the Maine Real Estate Sales Agent Test. Use flashcards, and multiple-choice questions with structured hints and detailed explanations. Excel in your exam preparation!

In a short sale situation, the homeowner must provide the lender with permission to discuss and disclose information about their loan and financial status. The document that facilitates this is the Authorization to Release Information. This form allows the lender to communicate with the homeowner’s real estate agent or other parties involved in the transaction, ensuring that everyone is informed of the negotiations and status of the short sale.

By signing this authorization, the homeowner ensures that the lender is legally allowed to share pertinent information and updates, which is crucial for navigating the complexities of a short sale effectively. This transparency can help expedite the process, allowing the agent to advocate on behalf of the homeowner and work towards an agreement that satisfies both the lender's requirements and the homeowner's needs.

The other options might be relevant in different real estate contexts, but they do not serve the specific purpose of granting permission to release information to facilitate a short sale.

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