Hardships Eligible for Short Sales
A hardship is a material change in the financial situation of a homeowner that is affecting or will be affecting their ability to pay their mortgage. Examples of acceptsable hardships are:
- Loss of Job
- Business Failure
- Damage to Property
- Death of Spouse
- Death of Family Member
- Severe Illness
- Inheritance
- Divorce
- Mandatory Job Relocation
- Medical Bills
- Military Service
- Payment Increase or Mortgage Adjustment
- Insurance or Tax Increase
- Reduced Income
- Separation
- Too Much Debt
- Incarceration
Did you know foreclosure is not the only option?
- Banks prefer to do a short sale over a foreclosure
- Banks are not in the business of owning property and do not want to foreclose on you.
- Short sales would not negatively impact your credit as much as a foreclosure would.
If you, your family, or your friends find yourself in this scenario - call me! There is a light at the end of the tunnel and it's not a train! Andrea Burke, Certified Distressed Property Expert 304-261-8517.
