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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.
· Death of a Principal Borrower
· Serious Illness of a Principal Borrower or Principal Borrower’s Family Member
· Marital Problems (Divorce or Separation)
· 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.