What constitutes a valid hardship?

• Job loss
•Business failure
•Illness and medical costs
•Divorce
•Death
•Natural disaster
•Relocation

If the mortgage holder has liquid assets, the lender will want the seller to contribute some of the assets at closing.

A short sale requires substantial documentation and responsibility for preparing the documentation is largely the seller's.
Reasons why sellers should gather documentation NOW:
* Demonstrates seller cooperation
* Documentation is ready when the contract comes in