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Tamara Inzunza - (703) 623-8759
Tamara Inzunza Northern Virginia Short Sale Realtor
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Recently Closed Short Sale
Lorton Valley
Lorton, VA
* - Investment property
* - Two mortgages
* - Current on mortgage payments
* - No cash due or promissory note

Alexandria VA Townhouse Short Sale

Recently Closed Short Sale
Alexandria, VA
* - HOA liens paid by lender
* - Two mortgages
* - No cash due at closing
* - No promissory note
* - closing costs paid to buyer

"I now realize that I may not have gotten through the transition so smoothly if it had not been for her expertise in an area most Realtors do not care to touch! Tamara has a heart for her clients and it is evident in the dedication she exhibits. I would highly recommend her to anyone searching for a home or trying to get rid of one." - E. Dawson

"Her attention to every detail and willingness to go beyond her area of responsibility was a huge factor in getting my place sold in a timely manner. Selling my home was very stressful and Tamara made the process as easy for me." - J. Bain

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Wednesday, December 08 2010

Alexandria VA Short Sales - Your Hardship Letter And What The Lender Is Looking For

When you are applying for a short sale, the lender will request that you provide a written and signed hardship letter. The hardship letter is an explanation letter that details the events that have let up to your inability to pay your mortgage.

Here is an example:

To whom it may concern:

I am writing to explain what has caused me to be delinquent on my home mortgage. When I purchased my home in October of 2005, I had steady employment and even made a 20% down payment.  I have also made over $50,000 of improvements to my home to include extending the kitchen and adding another bathroom. 

In September of 2008 I was laid off from my job and was unemployed for over a year.  I have found other employment, but my salary has been cut by 40%.  During the time I was unemployed, I received unemployment benefits, but it was not enough to cover all of my monthly expenses and I started to get behind on my mortgage.  For the past few months, I have been using my credit cards to maintain basic living expenses, but unfortunately am also behind on that debt.  Some of my cards have been cancelled due to my inability to pay, and now it has become a challenge for me to keep my home.  My credit has suffered, and I am fearful that this has now affected my ability to seek adequate employment.

I have tried for three months sell my home myself as a For Sale By Owner, but did not receive any offers to purchase.  After three months, I consulted with a Realtor and learned about a short sale and listed it.

I request that you please consider the offer that my Realtor has received on my home as full payment for my outstanding mortgage balance.  I have spoken to a bankruptcy attorney, but do not want to damage my credit any further.  I would like to avoid any further damage to my credit and avoid foreclosure.


In this example you see an outline of events from past to present that details the hardship that the owner is facing and shows how the homeowner tried to resolve the problem.

We welcome your comments so that information can be shared to help homeowners across the country.


Posted by: Tamara Inzunza AT 08:33 pm   |  Permalink   |  0 Comments  |  Email
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Tamara Inzunza, Associate Broker

RE/MAX Executives 
Certified Distressed Property Expert (CDPE),
Certified Residential Specialist (CRS)

2104 Mount Vernon Avenue
Alexandria, VA 22301
(703) 623-8759


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