If you are having trouble making your mortgage payment, we will need to explain your hardship to your mortgage servicer and why this a long term problem. Your mortgage servicer will need to understand the reasons why you’re having difficulty in order to find the right solution for you. Although no situation is exactly the same, some examples of what would qualify you for a short sale maybe:
Divorce: Delinquency from a divorce or separation, such as a dispute over ownership.
Marriage: Being left with 2 houses, one or both of which are under water.
Poor Health: Extraordinary expenses as a result of you or a loved one becoming ill.
Loss of Job: Reduction in income resulting from the loss of a job.
Foreclosure Notice Received: Receipt of a legal notice or foreclosure date from your lienholder.
Deceased Client Or Co-Owner: We work with Executors to obtain short sales.
Pay Reduction: A reduction in income from a garnishment, change in job, loss of hours or commissions.
Relocation: Incurring additional expenses due to moving a household to a new location.
Military Orders: Military pay not being sufficient due to entering active duty status.
Increase in Expenses: Having incurred excessive debts in a single instance or overtime.
Inability to Upgrade Property: No money to improve property; as a result, value is below the amount owed.
Bankruptcy: Many short sale clients are in Chapter 7 or Chapter 13 bankruptcy. We would obtain permission from the Trustee to work on the short sale.
Will You Qualify For A Short Sale?
In our experience, most people who find themselves unable to pay their mortgage are responsible, honest people who experience a life-changing event that is outside of their control.
In many cases, the event itself is difficult to endure. Most of our clients are successful people who are temporarily sidelined by the financial burden caused by these events. We help them find their way forward in a difficult time, with strict confidentiality and kindness.
Contact us for a phone consultation to review your financial situation and determine if you meet the financial qualifications for a short sale.
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