But I can tell you that the bank will expect to see some kind of hardship if you are trying to short sale your home. A hardship can be a loss of job, loss of income, death in the family, unexpected medical bills or any other number of things. The fact that your home is now worth about 1/3 of what you bought it for may even be seen as a hardship. A hardship letter is required by every lender I know of and is a big part of the short sale package. You should give it some serious thought when writing it.
There are sellers out there who may feel like they were taken advantage of when they bought their home. Or they may feel like their lender has screwed them. If you bought in 2005 in Central Florida I’d say the odds are good that’s how you’re feeling right now. But what have to keep in mind is that the person negotiating the short sale on behalf of your lender doesn’t know you or your situation. It’s simply a numbers game to them.
I call them bean counters. They are looking at the numbers and strictly the numbers. If you can show them in a letter that you indeed have some sort of hardship, and have a buyer who is willing and able to buy the home for fair market value, there’s no reason why they shouldn’t approve the sale.
As hard as it may be, you should try to leave the emotion out of your hardship letter and just give them the facts. That’s what they need to see in order to make a decision on your short sale. Anything else is distracting them from your goal, and that is getting you house sold.
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Mortgage Assistance Relief Services Disclosure
Tutas Towne Realty, Inc is not associated with the government and our services have not been approved by the government or your Lender. If you stop paying your mortgage you could lose your home and damage your credit. Your Lender may not agree to the change of your loan and/or a Short Sale.With a Short Sale, there are no guarantees offered and we cannot provide legal advice. Seek legal advice.
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Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales, Orlando Florida Short Sales, Celebration Florida Short Sales, Winderemere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.
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