How do I know if I qualify for a short sale?

The qualifications for a short sale include any or all of the following:

1.) Financial Hardship: there is a situation causing you to have trouble affording your mortgage.
2.) Monthly Income Shortfall:  in other words: “You have more month than money.” A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
3.) Insolvency: the lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

It is understandable to have questions when coping with a new and challenging situation, especially when a home is at stake. The reality is that millions of homeowners across the country are finding out that they have more questions than answers. As a Certified Distressed Property Expert (CDPE), I have the knowledge and experience to help you. Call me today to learn more about your options.