Exit Without Foreclosure
For homeowners open to selling.
What Is a Short Sale?
A short sale occurs when the lender agrees to accept less than the total amount owed on the property, often forgiving the remaining debt.
This option allows the homeowner to avoid foreclosure while experiencing significantly less damage to their credit.
One of the key benefits of a short sale is the ability to qualify for another home purchase within 2 to 4 years, without having a foreclosure recorded on your credit history.
In some cases, homeowners may also be eligible for relocation assistance, and lenders typically prefer short sales over costly and lengthy foreclosure auctions.
How the Short Sale Process Works
- Submit hardship package
- List the home with a specialist
- Secure an offer
- Negotiate with all lienholders
- Obtain lender approval
- Close the sale
- Deficiency often waived
Why You Should Work With a Professional
Short sales involve
• Multiple lienholders
• Mortgage investors (FHA, VA, Fannie Mae)
• HOA associations
• Judgment creditors
• Negotiation with several parties
• Strict compliance rules
What Professionals Do
• Prepare hardship package
• Communicate with lender
• Obtain lien releases
• Prevent illegal or fraudulent buyer tactics
• Ensure compliance with federal short sale rules
Investor “Quick Sale” Options
If the homeowner wants speed:
Investor “Quick Sale” options are ideal for homeowners who need speed and certainty. These solutions involve cash buyers who can purchase the property as-is, eliminating the need for repairs and allowing for a fast closing process.
In many cases, a quick sale can stop the foreclosure process before the property reaches auction, providing a faster and less stressful exit for the homeowner.