Your situation certainly sounds it's becoming a signifcant hardship to your family. However, you will also need to show your lender a financial hardship. Each lender 's guidelines in accepting a short sale are different. Just the same each seller's situation is unique. So, it's difficult to give you a flat answer on this blog.
The right answer is: you will never know if your lender will accept a short sale unless you try.
You have to ask yourself, "What is the worst that can happen at this point?" If your lender says "no", you are no worse off than you are today, right?
My ten years experience as a paralegal gives me an edge in negotiating with your lender, allowing me to specialize is short sales and loss mitigation. I have helped many families avoid foreclosure, bankruptcy, salvage their financial situations and take back control of their lives.
Please give me a call to discuss your specific needs.
Prudential Americana Group Realtors
871 Coronado Center Dr. #100
Henderson NV 89052
The only reason a bank will accept a Short Sale is Financial Hardship. Not being able to meet your financial obligation across the board. If you show assets, they will not consider your request.
There are a few things that you may want to consider:
1)Lease Option the property to a buyer.
2)Sell your property low & Buy low.
3)Rent the home; use a property manager.
Hope this helps; If I can be of assistance please email me.
I emailed you back in regards to your situation. I specialize in short sales and have helped many people avoid foreclosure and get out from under their financial burden of their home. You have some situations which may make sense for you to attempt a short sale. I would be willing to make the attempt for you and negotiate hard with the bank. Please call me to discuss this further so I can give you some info right away. Thank you and hope to hear from you soon.
Short Sale Specialist
Prudential Americana Group
Cell: (702) 203-6688
Typically situations that are under your control, such as outgrowing the house, may not taken into consideration. Where a medical or safety issue is fairly easily resolved (i.e. fencing the pool), they are less likely to approve the short sale as well.
However, you won't know the answer to this unless you give it a try. When you write your hardship letter, be sure to explain the situation with your autistic child.
Short sale will damage your credit
We specialize in shortsales and can tell you that the most important thing most of our banks look at is your finances and your hardship. Concern for your autistic child may be considered a hardship. We see some banks not looking at either and they simply decide to take the short sale if the offer is at fair market value. I have a wonderful short sale handbook that explains to the seller how our process works. If you would like a copy, please contact us by phone: 702-604-7739 or send an email with your address to: email@example.com. You can find some Las Vegas shortsale information at http://www.savemefromlasvegasforeclosure.com