Short Sale with Hardship Qualifications

What qualifications are needed for Short Sale with Hardship for each mortgage type?

Find your mortgage type and read the articles to find what is acceptable and non-acceptable for hardship.

Federal Housing Finance Agency (FHFA):

Aug. 21, 2012: FHFA Announces New Standard Short Sale Guidelines for Fannie Mae and Freddie Mac/ pg. 1 and FACT SHEET

Please note: Both Fannie Mae and Freddie Mac have stipulations in place that can prohibit a short sale if a new home purchase was done prior to the application for a short sale. Please be aware of these rules.

Fannie Mae (FNMA):

May 30, 2014: Updates to Short Sale and Mortgage Release (Standard Deed-in-Lieu of Foreclosure) Requirements/Servicing Guide Announcement SVC-2014-09

Aug. 21, 2012: Fannie Mae Announces New Short Sale Guidelines/New Guidelines Streamline Short Sale Processes to Prevent Foreclosures and Help Communities Stabilize pg. 1

Aug. 22, 2012: Standard Short Sale/HAFA II and Deed-in-Lieu of Foreclosure Requirements/ Servicing Guide Announcement SVC-2012-19 pg. 3 on…

Freddie Mac (FHLMC):

June 3, 2014:This Single-Family Seller/Servicer Guide (“Guide”) Bulletin updates and revises the following:Certain requirements for Freddie Mac Standard Short Sales (“short sales”) and Standard Deeds-in-Lieu of Foreclosure (“DILs”) pg. 6

Nov.1 2012: Freddie Mac Standard Short Sale pg. 1

Aug. 21, 2012: Aligned Short Sale Requirements in Guide Bulletin 2012-16 pg. 1

Freddie Mac Short Sale


July 9, 2013:Mortgagee Letter 2013-23/Updated Pre-Foreclosure Sale (PFS) and Deed in Lieu (DIL) of Foreclosure Requirements pg. 3


Pg. 5: Dept. of Veterans Affairs Compromise Sale Program


USDA Loss Mitigation Guide/Chapt. 3, Sect. C, Part 1