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What criteria demonstrate that I am in a “hardship” situation?
A hardship situation is one that results from an extenuating circumstance that places you in the position where you can no longer afford your mortgage payments. Examples include:
- Unemployment or the loss of a primary income source
- Inability to work due to a health issue
- Business failure
- Bankruptcy
- Death of your spouse or significant other
- Moving and cannot keep up payments on two properties
If I do not live in the property, do I still meet the requirements for a short sale?
Yes. Non-owner-occupied properties do qualify for a short sale.
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