Do I Qualify ?
Consider the following to determine if you may qualify for a short sale:
- Do you have a verifiable hardship?
- Divorce, Unemployment, Curtailment of Income, Death, Medical Expenses, Bankruptcy, Sudden Illness, Job Transfer, Military PCS
- Has the value of the home dropped, so that you owe more than what the home is worth?
- Are there comps to support this information?
- Is the mortgage in, or near default status?
- Have you received your Foreclosure Filing?
- Do you have any assets?
- If the lender discovers that the seller has assets, i.e. cash in savings, additional properties, IRA, stocks, bonds, etc., they may feel that there is an ability to re-pay the difference. They could decide to move forward with a short sale, or not approve one at all.
**Please keep in mind that the lender may work with you on a short sale, regardless of your circumstances. Please give us a call with any questions you may have.
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