Can I Short Sale My House in Roseville?
If you are considering selling your Roseville home as a short sale and have already investigated the short sale process, you are probably wondering if you qualify for a short sale.
Can I Short Sale My House in Roseville?
To qualify for a Roseville 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 Roseville short saleif 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 Roseville 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 Roseville short sale expert before attempting to short sale your Roseville home.
Can I Short Sale My House in Roseville?
Posted by Allan Sanchez Roseville Short Sale Agent www.AllansHomes.com
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