Can I Do A Short Sale If I’m Still Employed?

Hi, this is Kelly Cook with the Cook & Associates Real Estate Advisors, your :k1: short sale specialist. We can be found online at We specialize in helping homeowners throughout the entire :k1: area avoid foreclosure through the means of a short sale. We are also part of The Real Brokerage. We would love to chat with you about any short sale or real estate questions that you may have.

Today the topic we are specifically addressing is a question we get all the time: “Can I still do a short sale if I am employed and am making a decent income?” The answer is yes, you can. That is one of the biggest myths out there; there’s a lot of misinformation out there about short sales and I’m here to dispel this particular myth today.

First of all, the bank will look to see if you have a qualified hardship and 99% of the time you have to have a legitimate hardship to do a short sale. If you do not have a hardship, or are unsure if you do, give us a call and we’ll discuss your situation. A qualified hardship is much more far-reaching than just financial hardship or loss of job. You can certainly still short sale your property if you still have income, even if it’s increased since you’ve owned your home. Some other qualified hardships, in terms of examples, are divorce, job relocation, increase in expenses, sickness in the family, there are many others that we can discuss as well if you give us a call.

You can reach us at our office at 480.442.9868, email us at, go to our short sale calculator at The short sale calculator will tell you when you’ll break even on your home, based on things such as your remaining principal amount, interest rate and monthly payment. It’s a very useful tool that I encourage you to take advantage of if you are contemplating whether or not a short sale is best for you. Please contact us at any of the previously mentioned methods; we look forward to helping you with your short sale.