In order to qualify for a short sale, you must have an acceptable and demonstrable “hardship”. A hardship is something that negatively affects your ability to pay your mortgage now or in the future. In fact, in most cases you will have to submit a signed letter with supporting documentation to the mortgage company specifying your hardship.{[}]

Types of Hardship

{[}] {[}]{[}]A good definition of hardship is a material change in a homeowner(s) situation affecting your ability to make your mortgage payment.  Examples of acceptable hardships are as follows:{[}]

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• Income reduction

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• Loss of job

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• Business failure

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• Relocation

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• Military service

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• Payment increase or mortgage adjustment

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• Damage to the home

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• Divorce

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• Severe illness

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• Death of wage earner, spouse or non-wage earner resident

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• Inheritance

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{[}]Bottom line, if because of one or more of the above instances, you have exhausted your liquid assets and can no longer make your payments, you could qualify for a short sale with your mortgage company.{[}]{[}]Next, we’ll get into the topic of Reasons To Avoid Foreclosure, digging deeper into the pros and cons of each.{[}]{[}]Contact us to get a free, no hassle, consultation to discuss and explore your options, we are just a call – 404-323-0049 or email away.  Remember, a short sale is a dignified and effective solution to avoid foreclosure and the damage it can do to you financially and emotionally. And with our extensive training as a Distressed PropertyExpert and successful track record selling short sale homes, we can help you too!