What is a Short Sale? 

A home that sells for less than the mortgage loan is worth.

What is a Foreclosure?

When a homeowner fails to make timely mortgage payments and the lender exercises their right to repossess the home to satisfy the debt.

In almost every case of foreclosure, the bank pursues the homeowner for the deficiency, or amount still owed!

See this typical foreclosure timeline.

How can a Short Sale help me, the homeowner who is behind on my mortgage payments and about to be foreclosed upon?

You, the Homeowner, benefit by having an Exit Strategy.

As a homeowner, our goal is to exonerate you from any deficiency between what you owe and what your home sells for.

We will negotiate with the buyer and lender on your behalf, saving you the hassle.

What Makes Short Sales Pros Experts in Negotiating Short Sales?

We are Short Sales Specialists.

We have over 60 years of experience in Real Estate Law, Title Work, Mortgage, HUD requirements and Real Estate Agents.

We help to simplify the short sale process and work with you as a team.

We help you to prove hardship.  What does hardship mean?

We have longstanding relationships with banks and other lenders.

Ultimately, we save you both time and money!

What are the lender's requirements for a short sale?

The property must be listed by a Licensed Real Estate agent.

The property must be listed at the "current market value".

An offer to purchase the property MUST be made.

The Lender requires certain documents with the offer to purchase.   We help you with these!

What are some of the tax consequences of a Short Sale?

The debt forgiveness applies to the Principal Residence only.

It applies to the first mortgage debt only.

The second mortgage or HELOC (Home Equity Line of Credit) is taxable.

(Short Sale Pros always suggests clients consult with a CPA and/or Attorney on legal and tax issues).

For more detailed information, read our Short Sale Frequently Asked Questions.