To qualify for a short sale, your home must be underwater and you must be going through a hardship. Although there are many other factors involved in the short sale process, those are the two starter questions to consider in the very beginning.
How exactly is a home “underwater”?
Underwater means that the mortgage you owe on the house is more than the market value of your home. This means that if you were to sell your home on the market today, you would still owe money to the lender after the sell is completed.
What hardships would qualify?
You must be going through a hardship that affects you financially. It can include:
2-Loss of Income
3-Loss of Job
6-Overwhelming medical bills
We are the short sale specialists in Dallas area and help several home owners to see if they qualify for a short sale. Call us directly if you have any questions 972-342-0011