Have you reached the point of no return? I meet and speak with people considering short sales almost everyday. Some are ready to begin the process and some are not. I tell each one of them — I don’t talk people into short sales — most people who want to list their home as a short sale know it before they call me. Usually, they’ve already met with an attorney and their tax professional (often one of those professionals recommends the short sale). They understand the tax, credit, and legal consequences, and want to proceed right away because they have reached the point of no return. 
What is the point of no return? For each person it is different. There may be a trigger — your hours are reduced at work, a health event due to the financial stress and strain, or the first month you really can’t make the mortgage payment has finally arrived. These are indeed tough economic times for all. Many of the people that call me have never even had a derogatory on their credit report — often they have used credit cards and depleted savings trying to stay afloat — and then the day arrives when they realize that they cannot do it anymore. They have reached the point of no return and must explore a short sale as a possible solution to their financial difficulty.What Should I Say In My Short Sale Hardship Letter?
As a Santa Maria short sale agent, this is probably the most common question I’m asked by potential short sale sellers. It can easily become the “never-ending term paper,” you know, the one you never start writing? Short sale sellers tend to put off and put off writing their hardship letter. It is a bit different than a loan modification hardship letter, where the purpose is to indicate that you have it hard but you can still afford to stay in the home if your lender makes a few changes to your loan.
