If you think your home is underwater one of the first questions that may come to your mind: “Is my house eligible for a short-sale?” One of the most important components in determining if you are eligible for a short sale is the hardship letter.

Hardship is defined as an adversity.  Something, difficult or unpleasant, that you must endure or overcome. www.yourdictionary.com

If you’ve already done some research you may have heard of the typical hardships like job loss, divorce, or illness, but sometimes other types of hardships can be approved. You also need to show a financial hardship…you need to be in a position that you cannot pay the deficiency. Every situation is different, every bank is different, and every transaction is different. So there are no guarantees, but the letter of hardship is extremely vital to the success of a short-sale.

One example of a not-so-typical hardship:

I was helping a couple who lived an hour from their kids school (divorce situation-the kids remained in the same school system).  The bank approved this short-sale.

Next, we need to determine the current market value of the property. You need to sit down with a real estate agent who is familiar and EXPERIENCED in short-sales. There are obstacles that need to be explained to you, so you can be prepared.

Reconcile

Once we determine your property is indeed underwater. I work with experienced short sale attorneys and negotiators, and this program is of no cost to you.

Call me today to talk; I will answer all of your questions.

I will help you sell your home so you can have fresh start.

An excellent explanation of short-sales can be found on Realtor.com: http://www.realtor.com/blogs/2011/08/15/demystifying-the-short-sale-process/

If you’d like to know when I post another article on this topic “like” my Facebook page: http://www.facebook.com/TopNHhomes

Just my thoughts.  -Jenn

NOTICE: I am not associated with the government or a lender. Keep in mind your lender may not agree to a short-sale. If you stop paying your mortgage, you could lose your home and damage your credit rating. Short-sales in Nashua, Hudson, Merrimack, Amherst, Pelham, and Windham.

-Just my thoughts. -Jenn