Do You Qualify For A Short Sale
Do You Qualify For A Short Sale
How Does A Homeowner Qualify for a Short Sale?
There are four criteria a homeowner must meet to qualify for consideration by the lender for a short sale. These are:
- There must be a demonstrable financial hardship, e.g., a lost job or material change in the financial situation;
- There must be a monthly shortfall;
- There must be insolvency, meaning that the owner does not have the money to pay down the mortgage; and
- The owner does not have any assets to sell to pay for the shortfall.
For More Information About Your Ability To Avoid Foreclosure, Contact Us at Jodi@TeamJodi or go to www.ShortSalesInNC.com and register. A Team Jodi specialist will contact you within 24 hours to discuss this with you in full.
