Need Help With a Short Sale? Avoid Foreclosure and Learn Your Options.

A short sale is when your lender agrees, in writing, to let you sell your home for less than what you still owe on the mortgage. That written approval — not the sale itself — determines whether any remaining deficiency balance is forgiven, reduced, or something you may still owe.

Not always. Some lenders will consider a short sale if you can show a genuine financial hardship, even if you haven't yet missed a payment. Requirements vary by lender.

No. A short sale requires lender approval. The lender reviews your hardship, financial documents, and the proposed sale price before making a decision.

Timelines vary widely depending on the lender, the completeness of your documentation, and whether there's more than one lien on the property.

No. In a short sale, you sell the home to a buyer with lender approval. In a deed in lieu of foreclosure, you transfer the property directly back to the lender instead.

A short sale can affect your credit, but the impact and recovery timeline vary based on your overall credit history, other debts, and how the account is reported. We can't guarantee a specific outcome.

For many homeowners, a short sale offers more control, more privacy, and potentially a shorter path to recovery than a completed foreclosure, but outcomes depend on your lender and circumstances.

Many loan programs allow buyers to qualify again after a waiting period, provided they meet current lending requirements at that time. Approval is never guaranteed.

Some landlords review credit history as part of a rental application, so a short sale could be a factor, though policies vary by landlord.

In a regular sale, the proceeds fully pay off the mortgage. In a short sale, the proceeds fall short of the loan balance, so the lender's written approval determines how the remaining amount is handled.

In most cases, you continue living in the home while the short sale is being reviewed and processed, up until closing.

It depends on your lender and the terms of their written approval. Some lenders forgive the remaining deficiency balance, while others may pursue it. We review this with you before moving forward.

Because the sale price is typically less than what's owed, proceeds usually go toward the loan balance. Some lenders offer relocation assistance in certain cases, but this depends on the lender.

The lender typically requires an appraisal, broker price opinion, or comparable sales analysis to confirm the proposed sale price reflects current market value.

Other options may still be available, such as a loan modification, repayment plan, deed in lieu, or exploring a direct sale.

A short sale involving more than one lien is more complex, since both lienholders typically need to agree to the terms.

A short sale may still be possible depending on how far along the foreclosure process is and your lender's policies. Reaching out early helps preserve options.

Yes, short sales aren't limited to primary residences. Rental and investment properties may also qualify, depending on the lender's requirements.

Yes. If you inherited a property with a mortgage balance greater than its value, a short sale may be one option worth exploring alongside others.

Outstanding HOA dues can complicate a short sale and typically need to be resolved before a lender will approve the sale.

A tax lien adds another layer of complexity and usually requires review by the lender and, in some cases, discussion with the taxing authority.

Short sales are often handled with the help of a licensed real estate agent or attorney familiar with the process, since lender communication and paperwork can be involved.

Most lenders request a hardship letter, recent pay stubs, bank statements, tax returns, a mortgage statement, and a financial worksheet.

A hardship letter is a written explanation of the financial circumstances that led to falling behind or being unable to keep up with the mortgage.

Yes. Many homeowners reach out before missing a payment because they can see a hardship coming. Addressing it early often creates more options.

Because lender review and documentation can take time, starting as early as possible generally preserves more options, especially if a foreclosure sale date has already been set.

No. We don't charge homeowners for our short sale assistance. Other transaction-related costs, if any, depend on your lender, title company, or other parties involved.

We help you understand your options, organize documentation, and coordinate communication between you, your lender, title company, and other parties involved, as appropriate. We are not a law firm, mortgage servicer, housing counselor, or licensed short-sale negotiator, so depending on your situation we may recommend you also involve a licensed professional.

In some cases, yes. Depending on your equity position and lender, a direct sale to Buddy Home Buyer may be a simpler alternative worth comparing.

We treat your personal and financial information with care and use or share it only as described in our privacy policy and as needed, with your knowledge, to evaluate or coordinate your request.

The first step is simply reaching out for a free consultation so we can understand your situation and walk you through what options may be available.