Who qualifies for a Short Sale?
There are many reasons people consider a Short Sale. In our experience, while many situations may be similar, they are also unique. We have never experienced the same exact situation twice in all these years. Below are some examples of what would qualify you for a short sale:
Divorce
Delinquency from a divorce or separation, such as a dispute over ownership.
Marriage
Being left with two houses, one or both of which are underwater.
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.
