Need to Sell your Home as a Short Sale - Hardships that Can Qualify

Need to Sell your Home as a Short Sale - Hardships that Can Qualify

Here are examples of what most lenders and investors accept as hardships:

Hardships that Can Qualify for a Short Sale:

  1. Loss of employment
  2. Business Failure
  3. Damage to the property(could have been under insured)
  4. Death of a Spouse of wage earner
  5. Death of a non-wage earner. For example, a family member who was watching the seller’s children and now the seller has to pay to put the children in child care; or they were a financial contributor even though they weren’t on mortgage.
  6. Severe illness
  7. Inheritance(inherited an underwater property, cannot pay taxes etc…)
  8. Relocation
  9. Divorce
  10. Military Service
  11. Payment increase or mortgage adjustment
  12. Insurance or tax increase
  13. Legal separation
  14. Too much debt vs income
  15. Incarceration
  16. Combination of above
















These are all pretty self-explanatory but you need to have a hardship that is documented and provable.

If there is an income change, you will need to document it to the lender via pay stubs and tax returns; if it is an illness, you will have to provide medical records; divorce – you have to show the divorce decree.

Regardless of the hardship, the more information you provide to support the claim the easier it is to show the bank there is a true hardship.


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Jim Starwalt

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Need to Sell your Home as a Short Sale - Hardships that Can Qualify


















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