Short sale reasons

In order for a lender to consider approving a short sale, the homeowner will need to prove a hardship that prevents them from being able to pay the lender the full amount owed. Valid short sale reasons the lender might consider include:

• A situation that requires the homeowner to have to relocate or move from the home
• Loss of job or reduction of wages
• Health issues or concerns that prevent the homeowner from working
• Divorce
• Medical costs
• A closing or failure of a business or self employment
• Death of a spouse
• Increase in mortgage payment or other monthly obligations

Any situation that creates a hardship and makes it impossible for the homeowner to repay their mortgage might be considered by the lender as a valid reason. Please contact me to discuss your personal situation.

Related Florida real estate blog posts on short sales