What is a Hardship?

Typical hardships can include:

•  A death in the family
•  Illness
•  Job loss
•  Forced relocation due to job transfer or military reassignment
• Reduction of salary, increase in medical costs, etc.

If your situation does not meet the usual hardships described above, perhaps an arguement could be made for other very real life situations that pose a “hardship” on you.

• Home is no longer suitable due to changes in the family. Two children in a one-bedroom condo, might be a “hardship”.
• Two story home prevents you from caring for elderly family member leaving them alone and at-risk.
• Your condo conversion project has 50% vacancies as other homeowners walk away, leaving you with unmanageable HOA debts.

There are no guarantees that a bank will accept your real-life situation as a “hardship”, but present the best case you can.