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When I interview sellers who want to short sale in my area, I ask them to describe their hardship. Agents who do a lot of short sales can sometimes become a little insensitive because we are focused on the statistics. For instance, when a seller says she is getting divorced, it's possible that I may not show a lot of emotion. Then I realize how that comes across, which is not at all in the way I intended it. Trying to do a short sale or loan mod because of relationship difficulties is acceptable to most bank guidelines.

It's not good news that the you and your spouse are splitting up. But, it is important for your lender to know. In your hardship letter, you want to explain  three things:

  1. How you got into your present situation - If for example you have missed mortgage payments state what caused this to happen.  Was it due to job loss? Medical or some kind of family emergency?  You need to be sure that the dates of the missed payments correspond to the circumstance that caused you to not make your mortgage payments.  Use dates to references the times in which hardships happened to you.
  2. What you have done to try to get out this situation – state the activities that you have undertaken to try and change your current situation.
  3. Why this situation is permanent and nothing you can do will change it.


Try to incorporate those three things into your hardship letter. It will make your situation look more sympathetic.




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