Rocklin Short Sale-Do I Qualify for a Short Sale?
If you are considering selling your Rocklin home as a short sale and have already investigated the short sale process, you are probably wondering if you qualify for a short sale.
Rocklin Short Sale Approved
To qualify for a Rocklin short sale you must have a hardship of some kind. Examples of a hardship:
- Sudden Illness or medical condition.
- Unemployment or reduction of hours/pay.
- Divorce
- Bankruptcy
- Death
Your lender will also consider the following:
- Determine if your home’s value has dropped based on recent comparables.
- Your mortgage is in jeapody of default.
- Your overall financial situation.
You may not qualify for a Rocklin short sale if you have assets. If you have significant equity in other real estate, a large savings account, an IRA account, or other liquid assets, your lender may determine you are financially able to keep your Rocklin home and reject the short sale. Or, they may agree to a short sale if you make a cash contribution at closing.
As always, make sure you consult a trusted CPA, real estate attorney, and Rocklin short sale expert before attempting to short sale your Rocklin home.
Rocklin Short Sale-Do I Qualify for a Short Sale?
Posted by Allan Sanchez Rocklin Short Sale Agent www.AllansHomes.com
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