If you are facing foreclosure and can no longer afford your home, you may qualify for a Short Sale—even if you don’t think you can (or haven’t been able to) sell your home. Let us help you!
Short sales, also known as a pre-foreclosure sale, are when you sell your home for less than the balance remaining on your mortgage. If your mortgage company agrees to a short sale, you can sell your home and pay off all (or a portion of) your mortgage balance with the proceeds.
You may even be eligible for up to $10,000.00 of relocation assistance if you participate in a short sale of your property.
A short sale is an alternative to foreclosure and may be an option if:
- You are ineligible to refinance or modify your mortgage
- You are facing a long-term hardship
- You are behind on your mortgage payments
- You owe more on your home than it’s worth
- You have not been able to sell your home at a price that covers what you still owe on your mortgage
- You can no longer afford your home and are ready or need to leave
Please note that you may be subject to tax consequences by doing a short sale as the forgiven portion may be taxable income to you. You should always consult with an accountant before making a decision to short sale as we cannot give you tax advice.