Yes, many short sale lenders consider a serious illness a hardship. Receiving a diagnosis of a chronic illness, having a serious health event such as a heart attack, cancer, or a recent diagnosis of a disability that will affect your ability to earn future income, will generally qualify you for a short sale. Potential short sale sellers should provide a personal hardship letter describing the details of the illness and how it requires them to sell their home or how it impacts their ability to pay the mortgage.In addition, I usually advise clients to obtain a hardship letter from their physician documenting their illness to their lender. Even if the lender does not require such a letter, I’ve found that providing supplemental and supporting documentation will boost the strength of a short sale application. You should be aware that even if illness is the reason for the hardship, your lender may still request your financial documents for their file.If you are considering a short sale of your Santa Maria, Orcutt, Lompoc, or Nipomo home, you should seek out an experienced short sale agent to guide you through this process. If you would like a short sale consultation, please call my office to schedule a meeting or a telephone consultation at (805) 938-9950. Tni LeBlanc is an independent Real Estate Broker, Attorney, Short Sale Agent and Certified Distressed Property Expert (CDPE) serving the Santa Maria, Orcutt and Five Cities area of the Central Coast of California.
*Nothing in this article is intended to solicit listings currently under contract with another broker. This article offers no legal or tax advice. Those considering a short sale are advised to consult with their own attorney for legal advice, and their tax professional for tax advice prior to entering into a short sale listing agreement. Mint Properties is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.
Copyright© 2011 Tni LeBlanc *I’m Seriously Ill — Will that Qualify me for a Short Sale?*
