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There are many possible reasons that property owners may find themselves in a difficult situation which leads to a Financial Hardship.
The following list highlights some (but not all) of the most common conditions that may contribute to a hardship:

·         Death of a Principal Borrower

·         Serious Illness of a Principal Borrower or Principal Borrower’s Family Member

·         Marital Problems (Divorce or Separation)

·         Unemployment

·         Reduction of Income

·         Long Distance Employment Transfer

·         Military Service

·         Mortgage Payment Adjustments

·         Incarceration of a Principal Borrower

 

Keep in mind that even if a Principal Borrower can demonstrate one or more of the above reasons, it is no guarantee that their lender(s)
will approve a Short Sale or another type of Strategic Default. There are many other factors that could potentially influence a lender’s
decision. Please visit our Companion Website for much more detailed information.

Copyright 2010 | Bruce Kwitny | 38 Suntree Place, Ste. 2, Melbourne, FL  32940 | Phone: 321-508-7209 | RE/MAX Elite | Each Office Independently Owned & Operated