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Who is the JUDGE? Who determines a Short Sale Hardship?

Reblogger Susan Goulding
Real Estate Agent with Mountain House Real Estate

I wrote this on the Tracy Blog - it applies to Mountain House Real Estate also


Susan Goulding
Short Sale - Foreclosures - Buyers

Original content by Susan Goulding 01490605

WHO is the judge? Short Sale HardshipsThe judge - who decides the hardship

When it comes to a short sale WHO IS THE JUDGE on what a hardship is or is not? Is it your local Realtor, your neighbor, you, the lender?  Bottom line it is the lender, and each lender is different, I'll go as far as to say each negotiator is different, to determine what is or is not a hardship.

I had a prospective Short Sale seller in Tracy, CA ask me if I thought their situation was a hardship that would be approved by the bank to short sale their home.  I couldn't and wouldn't answer their question.

Personally, I don't want to be the one to make that decision.

I've been working the past 5 years in Tracy and Mountain House, CA helping home owners short sale their homes.  Homeowners are typically 30- 50% upside down in our local real estate market.  I've seen short sales get approved that in my opinion no hardship existed.  I've seen short sales get denied when I was certain there was a hardship.

I tell prospective short sale clients I will leave hardship determination up to their lender. I'm here to help you, the seller, if you want to proceed with a short sale, then I will do what I can to get your short sale approved.
Are you the judge, or do you allow the bank to determine what is and is not a short sale hardship?

Susan Goulding

Serving Tracy and Mountain House CA with all real estate needs.  Free home search, first time home buyer loan information.  Foreclosure and short sale information.




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Keller Williams Tracy/Mountain House

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Dave Ralston
RE/MAX Northwest - Seattle Office - Seattle, WA

Your absolutely right that one persons hardship may be another banks "No way." Occasionally, there are a few sellers that don't want to keep paying the mortgage because of the market adjustment.  The bank doesn't sympathize for those cases either.

Jan 28, 2010 05:24 PM
Christina ONeal
At Home Real Estate Group - Ripon, CA
Realtor - Ripon California

re-blogging yourself...funny...love it :)

Mar 20, 2010 06:12 AM
Susan Goulding
Mountain House Real Estate - Mountain House, CA
Short Sales, Mountain House Homes for Sale

thanks for the comments Christina

Apr 12, 2010 04:16 PM