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Friday, June 22, 2012

What Is A Legitimate Hardship For A Ventura County Short Sale?

Ventura County CA – A hardship is definitely an adversity. Anything that affects you in a negative way is considered to be a hardship. The only thing is that these hardships have to be explained to your bank.

Your hardships have to be explained to the bank in a Hardship Letter. As the name suggests, you have to highlight and explain your hardship matters to the bank in this letter.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

In some cases, you might also have to attach some documents which will act as proves for the hardships. If your hardship is not considered to be legitimate by the bank, then there are possibilities that the bank will decline your short sale request.

The hardships which are considered legitimate by the lenders can vary according to different situations. In all situations you can never be sure of the opinion of the bank about the hardships you have stated.

In most cases, a legitimate hardship should be of monetary importance. This should show that you are having financial problems that make it hard to pay mortgage payments regularly.

The Hardship Letter that you write to the bank should very logically explain why your circumstances have changed and caused you to be unable to pay the loan.

Your bank might usually define a hardship as a situation which gets difficult for you to endure. There is a long list of hardships which can very easily be considered as legitimate by the lenders.
Some of these hardships include the following situations:

* Loss of job which you had held previously at the time when the loan was issued to you.
* A great decline in your income from a job or another source.
A borrower losing a tenant.
* There has been an unaffordable adjustment in the mortgage payments.
* Unforeseen and unexpected increase in your living expenses.
* Someone in the family getting seriously ill or injured.
* Illness or injury to someone even in the extended family, where it requires you to relocate.
* Job relocation when your home is upside down and you have no equity.

Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 805-208-0823.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Ventura County loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this,

Chris B Johnson, Realtor
Chris is a Real Estate Agent at Prudential California Realty.
Phone: 805-208-0823.
Certified HAFA Specialist, Certified Short Sale Specialist, Certified Distressed Property Expert

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Chris B Johnson provides HAFA Loan Modification and short sales help, Short Sales in Moorpark, Short Sales in Thousand Oaks, Short Sales in Westlake Village, Short Sales in Newbury Park, Short Sales in Camarillo, Short Sales in Santa Rosa Valley, Short Sales in Somis, Short Sales in Lake Sherwood, and Short Sales in Simi Valley California. Moorpark Loan Modification Help, Thousand Oaks Loan Modification Help, Westlake Village Loan Modification Help , Newbury Park Loan Modification Help, Camarillo Loan Modification Help, Santa Rosa Valley Loan Modification Help, Somis Loan Modification Help, Lake Sherwood Loan Modification Help, and Simi Valley Loan Modification Help, Moorpark short sales , Thousand Oaks short sales, Westlake Village short sales, Newbury Park short sales , Camarillo short sales, Santa Rosa Valley short sales, Somis short sales, Lake Sherwood short sales, and Simi Valley short sales. Moorpark Short Sale Specialist , Realtor, Moorpark Short Sale Specialist , Realtor, Short Sale Specialist , Realtor, Ventura County CA Short Sales. Stop Foreclosure in Ventura County, Certified HAFA Specialist, Moorpark Short Sale Specialist, Thousand Oaks Short Sale Specialist, Westlake Village Short Sale Specialist , Newbury Park Short Sale Specialist, Camarillo Short Sale Specialist , Simi Valley Short Sale Specialist, Moorpark CA Short Sales, Thousand Oaks CA Short Sales, Westlake Village CA Short Sales, Newbury Park CA Short Sales, Camarillo CA Short Sales, Simi Valley CA Short Sales, Ventura County Foreclosure Help, Moorpark Foreclosure Help, Certified Home Affordable Foreclosure Alternative Specialist, HAFA, HAMP. CA. DRE 10501699.You can find Ventura County Short Sale Specialist, Realtor, at 587 W. Los Angeles Avenue, Moorpark, CA. 93021Chris also specializes in loan modification assistance and short sales in Ventura County California. Ventura County Loan Modification Help, Ventura County Short Sales.
Ventura County Short Sale Specialist, Realtor, Short Sale Specialist, Realtor, Ventura County CA Short Sales. Ventura County Specialist, Realtor, ,
Certified Home Affordable Foreclosure Alternative Specialist . Always check with a good real estate attorney to find out the laws in your state. There are also legal aid non profits that can give you advice on what to do to stop a garnishment or bank account seizure.

You should also look at California SB458. With the passage of SB458, the Expanded Anti-Deficiency Law May Have Unintended Consequences on Ventura County Short Sales. So Please read
For Disclosure, and more information on Mortgage Assistance Relief Services, please see Code 16 of Federal Regulations (FTC), Part 322, or , and always consult your CPA, Accountant, Financial Advisor and Attorney before you any financial or legal decisions. Also see
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