WHO QUALIFIES FOR A SHORT SALE?

Most lenders will consider allowing a Short Sale if there has been a change in circumstance after the loan was initally obtained which prevents the borrower from making payments. 

Here are the possible reasons:

1. Loss of income

2. Divorce

3. Job Transfer (Moving)

4. Military

5. Mortgage Rate Reset

The lender will want a Hardship Letter explaining what happened to cause the inability to keep up with mortgage payments.  An unsatisfactory reason would be "the market has declined". We will give you examples of a hardship letter.