Question: I’m facing tough decisions about my financial future and am considering a short sale on my home. Do I need to miss payments in order to do a short sale?
Answer: The Making Home Affordable initiative may have changed the status quo. There is new evidence that some lenders are allowing short sales without requiring a home owner to miss payments, especially with the new government incentives to the lenders that have encouraged short sales. However, a home owner would still need to qualify for a short sale by demonstrating an acceptable hardship, by proving financial insolvency, and by documenting a monthly short fall of income. For more information short sales, contact Team Bohannon at Coldwell Banker today.
