Owe more than your home is worth?
You have more options than you think. A short sale means your lender agrees to accept less than the full loan balance so your home can sell. It can stop a foreclosure and let you move on with a plan instead of a deadline. The first conversation is free and confidential.
Short sale questions, answered.
More answers: short sale vs. foreclosure, how long a short sale takes, and whether a short sale can stop a foreclosure.
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It starts with a free consultation, where we review your loan, your home’s value, and your timeline. Next, we help you assemble the hardship letter and financials your lender requires. Your home then goes on the MLS like any other listing. When an offer comes in, we take it to your lender and push for approval. At closing, the lender accepts the payoff and the debt is settled per the approval terms.
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In most cases, no. The lender typically pays the real estate commissions out of the sale proceeds.
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Lender approval typically takes 30 to 120 days after an offer is submitted. Starting early gives you the most options.
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It can, if your lender agrees to postpone the foreclosure while the short sale is reviewed. Timing matters, so reach out as early as you can.
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Possibly. Forgiven mortgage debt can be taxable depending on your situation. Talk to a CPA before you sign anything.