What is a Short Sale?
Frequently Asked Questions
The one reality about today’s housing market is that many people have more questions than answers. The following information is intended to help you or someone you know better understand your situation.Do I qualify for a short sale?
The qualifications for a short sale include any or all of the following:
- Financial Hardship — There is a situation causing you to have trouble affording your mortgage.
- Monthly Income Shortfall — “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.
- Insolvency — The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.
Click HERE for a video about short sales.
Click HERE for a video on the government program HAFA short sale.
