Power Ranch Arizona Short Sales

What Constitutes a Hardship? Do you need to short sell your home in Power Ranch Arizona? Do you live in Power Ranch Arizona and are considering a short sale. There are many Power Ranch bank owned homes on the market. Many think a hardship is based solely on financial matters which is not necessarily true. Just about anything that makes it difficult for you to continue making a mortgage payment might qualify you for a hardship. While being upside-down is one of the qualification for a short sale, a bank is under no obligation to grant the short sale solely on that basis.  Has your life changed from when you acquired the loan. If your situation is unchanged, the bank may feel you can afford to stay in your home at your present payment level, but you also may have suffered emotional stress, family crisis, or marital problems. Here are few of the reasons that can be listed as hardships to help qualify for a short sale. 
  • Unemployment
  • Reduced income (furloughs, new job, partner's loss of job, pay cut)
  • Illness or medical emergency
  • Job transfer (voluntary or involuntary)
  • Divorce, separation or marital difficulties
  • Exotic mortgage terms (an adjustable-rate loan)
  • Military service
  • Death in the family
  • Incarceration
  • Increased expenses and excessive debt
  • Unexpected repairs or home maintenance

The Basics Behind a Hardship Letter

When interviewing sellers who want to short sale their home, it is not up to me to determine hardship.  Hardship letters should be courteous, to the point, and state plainly why you feel you should qualify for a short sale.  A few paragraphs should do it!


If you are struggling with the idea of short selling your home, please let me help! I specialize in Power Ranch Short Sales. Everything we discuss is in the strictest of confidence.


Sincerely,


Colette Cordner
Call Realty
Power Ranch Real Estate Agent
480-221-9619
colettecordner.com