The Seller must have a hardship in order to qualify for a short sale.

A hardship is be defined as:

Any material change in the financial situation of a homeowner that will affect their ability to pay their mortgage.

Examples of acceptable hardships.

1. Loss of Job

2. Business Failure

3. Damage to property (natural disaster)

4. Death of a Spouse

5. Death of family members

6. Severe illness

7. Inheritance

8. Divorce

9. Mandatory Job Relocation

10. Medical bills

11. Military Service

12. Payment increase or Mortgage adjustment

13. Insurance or Tax increase

14. Reduced income

15. Separation

16. Too much debt

17. Incarceration

If you are facing any of these troubles and can't make your mortgage payment, let us help. Call Carrie Shokraei 703-813-8264 at the Carol Greco Group for a private consultation on how a Short Sale could work for you.

*Information taken from the Certified Distressed Property Institute