Criteria 3: The Homeowner Must Demonstrate A Hardship
Atlanta Short Sales
I know, everyone is having a hardship these days. But the lender wants to know exactly what your hardship is and why you can’t make your payments. You must have documentation to show this. This documentation is added to the package that is sent to the lender to approve whether they will allow the home being sold for less than the amount owed. The lender will not take your word for it. If you lost your job, your variable interest rate adjusted upward and now it is impossible to make the payment, any medical issues will need bills as proof.
The homeowner must verify they do not have the means to make the payments any longer. Good documentation is the key to having the lender understand your situation.
- Atlanta short sales
