Who qualifies for a short sale?

Written on May 18, 2011 at 3:32 pm

Almost everyone who is facing a true financial hardship qualifies for a short sale. However, each lender and loan type has a different set of requirements specific to them. The general requirements for a seller to qualify for a short sale are: A provable financial hardship, behind on payments or facing imminent default, no equity in the property being shorted, no liquid assets, and a lender or loan type with a clearly defined short sale process.

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