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Short Sale Center of Virginia - Virginia Beach, Norfolk and Chesapeake
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Military Relocation Specialist serving Virginia Beach, Norfolk & Chesapeake Homes for sale
Real Estate by Sean Schroeder, Realtor. Serving all of Hampton roads!
Always free real estate advice for home buyers and sellers.
Set up your free home search at www.realty-xchange.net
Realty Executives, is here for you because of the changing market!
Now offering LIVE HELP! If you have a real estate question, or a specific need requiring an immediate answer, use our LIVE HELP feature to speak to one of our live agents. Our Live Agents can answer questions regarding specific listings that you see anywhere on this site, in the MLS or general questions regarding the sale or purchase of homes. We urge you to take advantage of this free service.
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Short Sale hardship letters and documents
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Hardship letters for Short Sales
The Hardship letter is a key component to your quest for a short sale approval. You must demonstrate to the bank that you have a true financial hardship. This letter is what the bank will use! You will have only this one chance to impress upon the bank that you have a legitimate hardship.
There are a few things to keep in mind, specifically what a hardship is.
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Unemployment
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Loss or Reduction of Income
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Business Failure
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Bankruptcy
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Medical Illness or Disability
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Medical Bills
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Too Much Debt
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Mortgage Payment Increase Due to a Rate Adjustment
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Divorce or Separation
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Incarceration
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Death
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Job Relocation
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Military Duty
It is just as important to realize what is not a hardship
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Loss of Equity ( Value )
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Real Estate Taxes are too high
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Too many repairs are needed
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Tenants are not paying rent
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