The most important activity when deciding to pursue a short sale deal is to determine whether or not the homeowners situation would qualify for a short sale approval. If this task is not done, you could be working on a “dog” deal that has no chance of closing, therefore wasting your precious time you could be spending on a deal that has a high chance of closing. WHB Solutions has implemented this very important task within their pre-qualification strategies that has been proven to get 90% lender approvals on short sales.

WHB Solutions started focusing their efforts on short sales over three years ago when short sales were even harder to close and fewer short sale opportunities. Therefore, we took all deals that came in to our office. On the one hand we wanted to work every short sale deal we could get our hands on to understand what it takes to close a short sale deal in today’s market. In the process of working every deal, we learned that some deals were worthless to spend our time on and now select deals that have a high chance of closing.

The fact is that there are and will be too many pre-foreclosures to save and there just isn’t enough qualified people to help these troubled homeowners. Therefore, all we can really do is to help the ones we know we can help. The homeowners we cannot help are referred to a professional that can help find other options such as bankruptcy.

One step of our proven pre-qualification strategy that gets our 90% lender approvals, is qualifying the homeowners situation. About a year ago, lenders would not consider a short sale of your home unless you were late on your mortgage. Now more and more short sales and getting approved with the borrower still being on time. Also, lenders were only considering properties that were of primary occupancy, whereas now they are considering investment properties.

To qualify the homeowner for a short sale, their situation must meet one of the following:

Property hardships
These are reasons that related to the home. Being in a dangerous neighborhood does not qualify as a hardship.

* Value of home has dropped below the balance of the mortgage
* Damage to Property (natural disaster or unnatural)

Seller has experienced financial hardships
Any reason that will cause the Homeowner to be in or soon be in default of their mortgage.

* Adjustable Rate Mortgage Reset- Payment Shock
* Loss of Job
* Reduced Income
* Failed Business
* Medical Bills

Seller has experienced personal hardships
Reasons that affect their ability to continue making their mortgage.

* Illness
* Job Relocation
* Death of Borrower, Spouse or Co-Borrower
* Incarceration
* Divorce or Marital Separation
* Military Duty

Here are examples that would not qualify for a short sale.

* Overextending your investments purchases
* Having a co-borrower that such as a father or mother, who have income and assets to cover the mortgage
* Property being in a dangerous or poorly developed neighborhood
* Wanting to buy another home of lower value
* Wanting to rent and save money
* Being pregnant

The above mentioned hardships are mentioned as a guideline to use with most lenders. They are not the only ones that can be used to get a short sale approved. If you feel you have a unique hardship situation, you may try selling the lender on the hardship to see what happens. Sometimes a lender may make a decision to approve a short sale other than the provided hardship reason. For example, if the net loss to the bank is acceptable and the company is in a position to recover funds to continue operations, they may approve the short sale to recover their money and use it for a purpose with a higher return in value.

If you would to learn WHB Solutions’ complete proven pre-qualification strategies that get us 90% lender approvals, visit

Author's Bio: 

To learn more about how to qualify the best candidate for your short sale transaction visit The number one factor in becoming successful in Short Sale Education, Short Sale Success and Short Sales is to learn how to pre-qualify your deal which includes finding the right buyer.