Dec 17, 2009

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

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