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Short Sale Roseville-Hardship Letter

Real Estate Agent with Roseville CA & Rocklin CA Short Sale Agent Broker DRE#01247876

Short Sale Roseville-Hardship Letter

When selling your Roseville home as a short sale, your lender will ask you to write a hardship letter explaining why you can no longer afford to pay the mortgage on your home.  The hardship letter is an important part of the short sale process.

Writing a hardship letter

Learn how to write the best possible hardship letter for your Roseville short sale:

Make your hardship letter clear, consise, and no longer than one page.

1.  Brainstorm about all the financial reasons why you can no longer afford your Roseville home.  This includes job loss, reduction of hours, pay reduction, school tuition expense, medical expenses, increased property taxes, credit card debt, etc. 

2. Paragraph One:  State a change.  In this paragraph mention what change has taken place to no longer afford your mortgage.  Keep it brief and use the best reasons from your brainstorming.

3. Paragraph Two: State the negatives about your area.  Your Roseville short sale expert can help you with this.  Tell the lender about current market conditions in Roseville and your neighborhood.  Example:  "There are 24 homes listed for sale in my neighborhood.  Five are listed as REOs and 15 are short sales."  Or, "The HOA has added a special assessment totaling $2500 over the next two years." This explains to the lender about the current real estate market.

4.  Paragraph Three:  List any wrong doing by a mortgage loan broker or any bad adjustable loans.  Also list the rest of your hardships.

5.  Final Paragraph:  Clearly state that you can no longer afford your mortgage and you have no other option than to short sale your Roseville home or foreclose.  Include your contact information and also the information of your Roseville short sale agent.

Your Roseville real estate agent will include your hardship letter with the rest of your short sale package.  Your hardship letter shouldn't take longer than an hour or two but it should be thoughtful and genuine because it is an important part of your Roseville short sale getting approved.

See if you qualify for a Roseville short sale.

Short Sale Roseville-Hardship Letter

Posted by

Keller Williams Realty-Roseville



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*Allan Sanchez is a licensed real estate broker in the state of California and does not give legal or tax advice regarding short sales and other real estate sales.  Please consult a real estate attorney or CPA for any legal or tax questions.

Chris and Maria Jeantet
Shasta Living Real Estate - Redding, CA
Top Realtors in Redding CA

Great job on this Allan. It's good to have someone nearby for all Roseville short sales.

The Jeantets

Dec 22, 2010 12:31 PM