There are many reasons for wanting to short sell, but how do you know if you qualify?
If you owe more than your home could sell for but want out, you may be wondering if you would qualify for a short sale . There are many hardships that result in approved short sales, and even those that don't sound much like "hardships" at all.
Let start with the most common hardships that are easily approved and widely accepted by lenders:
However, there are many other reasons to short sell that do translate in to qualifying hardships. I have personally gotten short sales approved for many reasons such as:
There is a lot of misinformation out there on the web regarding what is and is not an acceptable hardship. I have seen many unlikely-to-be-approved short sales actually get approved. There are a lot of variables to every short sale and no cut and dry rules for any. Before assuming your "hardship" doesn't qualify - speak to a local short sale professional.
Reid Real Estate Group has been CT's #1 short sale team since 2010, and we have helped hundreds of homeowners out of their upside down homes and onto the next chapter!
Last Updated on May 26, 2021 by Minna Reid