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Our key takeaways on California short sales. This short sale California guide is designed to provide you with the basic information you need to move forward with a short sale, which can be good option if you can’t pay your mortgage and your home is worth less than the amount you owe on it.
7 Απρ 2023 · Hardships that usually quality for short sale consideration include: job loss. a spouse's death. reduction in pay or work hours. job transfer. medical expenses from a serious illness for the homeowner or a family member. separation or divorce. an adjustable interest rate reset. military service, or. a natural disaster. What Is a Hardship Letter?
A short sale hardship letter is critical to your client’s short sale process. Essentially, they write a letter to the lender outlining why they can’t keep up with their mortgage payments. As a real estate agent, you already know how vital this step is to approve a short sale.
25 Αυγ 2020 · Learn how a short sale process works in California for homeowners, what the length of a short sale depends on, and how to get free professional help to process your short sale.
21 Φεβ 2011 · The hardship letter is one of the most important elements of the short sale approval process. Banks want to know what's going on with the borrower. The only way to obtain this information is to have the borrowers write a letter explaining their situation.
Examples of qualifying hardships include the onset of a disability or life-threatening illness; divorce; job loss; and/or death of one of the homeowners.
31 Ιουλ 2015 · The two most accepted hardship cases are proof that lower income has made your home unaffordable, or that you're subject to a mandatory job relocation. When reviewing your hardship case, your lender will analyze your income and assets. If your debt-to-income ratio has risen, it will help your short sale approval.
