Do I Qualify For A Short Sale?

Do I 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 on whether you qualify for a short sale, contact me at: [email protected] or visit my short sale site No More Salem Foreclosures to register.

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Contact Information

Photo of The McLeod Group Network Real Estate
The McLeod Group Network
Keller Williams Capital City
1900 Hines St SE #220
Salem OR 97302
971-208-5093
Fax: 971-599-5229

**Disclaimer: Amy McLeod, and her team, do not initiate, process, or service mortgages.  And provide this information only as a service.  You should confirm information here with your Licensed Mortgage Lender.