Αποτελέσματα Αναζήτησης
Hardship letter: The seller should list all issues contributing to their inability to sell for a higher price and/or pay the mortgage (i.e. loss of income, divorce, death of primary wage earner spouse, etc.). Financials (income, assets available, etc.). Copy of the listing agreement.
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.
A short sale is a transaction in which the lender, or lenders, agree to accept less than the mortgage amount owed by the current homeowner. In some cases, the difference is forgiven by the lender, and in others the homeowner must make arrangements with the lender to settle the remainder of the debt.
26 Ιουν 2024 · In a short sale, the homeowner must obtain approval from the lender to proceed with the sale. The process can be lengthy and complex, requiring documentation of financial hardship and negotiation with the lender.
19 Οκτ 2021 · While there are more than a few requirements to qualify for a short sale, banks generally grant short sales for two reasons. One, the seller must be experiencing financial hardship, and two, there isn't enough equity in the home to pay off the mortgage after closing costs.
14 Ιαν 2021 · Buying a home through a short sale is similar to buying a foreclosure, but the two processes aren’t the same. In a short sale, the bank or mortgage lender does not evict the homeowner.
