ResortQuest Real Estate

You must prove Financial Hardship.

• Some material change has taken place, between the day the mortgage was signed and today that has affected your ability to make your payment.
• There are a variety of life changes and situations that cause financial hardships.
  Learn more about financial hardships.

You have a Monthly Shortfall or will soon have a Monthly Shortfall that will cause you to miss payment(s).

• You have more month than money.
• Your SHORTFALL EQUATION is: Total Monthly Income-Total Monthly Expense=Shortfall
• If you miss a mortgage payment, don’t just stop paying your bills. Take action and communicate with your lender. Learn what happens if you miss a payment.

You must prove Insolvency.

• Your lender wants to know that you owe more than you have in cash and you do not have liquid assets to pay down your mortgage.
• If you cannot pay off your mortgage, foreclosure is inevitable unless you find an alternative to foreclosure, such as a short sale.

Commercial Investors:
Vital Information for informed decisions.