Below you will find a list of "hardships" that are frequently accepted by mortgage lenders:

  • Job loss, unemployment or significant income loss
  • Divorce or seperation
  • Excessive medical bills
  • Death of spouse
  • Military service
  • Adjustment in mortgage payment or unforseen increase in living expenses

Most mortgage companies or lenders require the hardship letter pursuant to a short sale. In the hardship letter, it is important to present the facts clearly, and above all else, be honest. The hardship letter must be able to prove the situation that caused you to fall behind on your payments and the excuse for falling behind must be legitimate and provable. A hardship is defined real and the mortgage company believes the loan is likely to become delinquent.

"With the economy the way it is, I lost my job and had other family crisis's going on at the same time. I spoke with Kevin about a Short Sale. He explained everything to me, and I decided to list it with them. To make a long story short, best decision I have made in many years! I was able to concentrate on my family issues while they handled the sale of my home. One less concern for me."  Randy

If you are facing a hardship, and would like more information on the Short Sale process, call Team Cook - we ARE Certified Distressed Property Experts! 970-532-2695