Benefits of a Short Sale

A Short Sale can be one of the best options for many homeowners behind on their mortgage and or facing foreclosure. The Short Sale process allows the homeowner to sell the property for less than owed and remove the secured debt associated with the home. Through the Short Sale the seller can close the sale and walk away from the property with significantly less damage than a foreclosure. A homeowner who decides to Short Sale their property typically experiences less impact to his/her credit. There are no out of pocket, up-front fees or costs associated with the Short Sale. Your lender pays for all fees including closing costs, escrow fees and realtor commissions. A Short Sale is typically the best course of action for homeowners with no equity that are delinquent on their monthly payments or in default on their loan. A Short Sale provides struggling homeowners with an opportunity to get a fresh start and wipe the slate clean.


What is a Short Sale?

A Short Sale is when the amount realized from the sale of a property is less (short) than the amount owed including outstanding liens, such as property taxes and home owners association dues and closing costs. With this settlement the lender releases the borrower form the mortgage, preventing a foreclosure. This is a win-win situation as the homeowner avoids foreclosure on their credit and the lender(s) avoid the additional costs associated with the foreclosure process.

How Do I Qualify For A Short Sale?

A homeowner looking at the option of a Short Sale must be able to show the lender that they have a "hardship" and as a result are unable or will not be able to continue making the payments on their mortgage. A hardship situation is one that is the result of circumstances that forced the borrower into a position where they can no longer afford their mortgage payments. While every situation is unique and must be evaluated individually, some common examples of hardship include:
  • Adjustment in Mortgage Rate
  • Unemployment or Loss of or Decrease in Income
  • Employment Relocation
  • Divorce or Separation
  • Business Failure
  • Mounting Medical Expenses /Illness
  • Death of a Spouse or Significant Other
A lender will consider additional factors to approve a Short Sale. Additional questions to ask yourself if you have a hardship situation;
  • Are you unable to refinance you mortgage(s)?
  • Do you owe more on your property than you can sell it for?
  • Are you having difficulty covering your monthly expenses?
  • Have you fallen behind on your payments?
  • Is the property in foreclosure or default? Sale Date Approaching?
If you answered yes, to any of these questions, you will likely be able to prove a financial hardship and qualify for a Short Sale.

Next Step in the Short Sale Process

I provide free no cost consultations. I have years of experience in Real Estate and Loss Mitigation. After reviewing your hardship situation, individual circumstances and property value we can determine if a Short Sale is an option for you. If a Short Sale is the most appropriate solution for your situation, we can begin the process. I have worked with just about every lender and have the specific forms your lender will require and know what supporting financial documents are necessary to approve a Short Sale.

Time is of essence. The sooner you begin the process,
the greater the chances of a successful resolution.


I manage the transaction from start to finish.

Real Results for todays Real Estate Market!