What is your hardship? You must be able to demonstrate a hardship. So what exactly does that mean? You need to let your lender know why you simply can not pay your mortgage. For example:
- You or your spouse has lost a job
- You or a family member has had a medical illness
- Your interest rate has adjusted and you cannot afford your new payment
- You have gone through a divorce
- And other reasons that would demonstrate such hardship
- Simply making a bad investment would not qualify as a hardship.
Also, you can not have assets that you could use to make your mortgage payments; no stocks, bonds, excess money in the bank, other properties with a lot of equity, etc. You basically need to be insolvent.
If this is you and you're located in Broward county or the surrounding counties of Palm Beach and Dade, I would be glad to help you through this difficult time. For more details, visit me at my web site: www.MyShortSaleHome.com. Remember, I'm your short sale consultant Realtor.
If you know of someone who is suffering from such a hardship and they don't live here in South Florida, please let me know as I can refer you to an associate who consults in short sales that would live near you.
Please visit my blog for more information on Short Sales and Foreclosures by clicking on "Coral Springs Florida Realtor Blog" above or "More Information" to the right to find additional articles.
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