Save It or Sell It
Could a Short Sale Help You Move Forward?
Answer a few questions about your property value, mortgage balance, hardship, foreclosure status, and timeline to understand whether a short sale may be worth reviewing.
Lender Approval RequiredEquity Review
Occupied Properties ConsideredNo Approval Guarantees
Your Short Sale Review
Complete one section at a time. Answers are saved automatically on this device.
1. Goal2. Property3. Equity4. Loan5. Hardship6. Timing7. Contact8. Results
Short Sale University
Plain-English explanations of the short sale process.
What Is a Short Sale?＋
A short sale occurs when a lender agrees to accept less than the full mortgage payoff from a property sale. Approval must be obtained before closing. Read Full Lesson →
How Does the Lender Review Value?＋
The lender may order a broker price opinion, appraisal, property inspection, or internal valuation to determine acceptable sale proceeds. Read Full Lesson →
What Documents Are Usually Required?＋
Common items include a hardship letter, income documents, bank statements, tax returns, mortgage statements, listing agreement, purchase contract, and estimated closing statement. Read Full Lesson →
Can a Short Sale Stop Foreclosure?＋
A short sale request does not automatically stop a foreclosure case or auction. Court and lender deadlines must still be monitored carefully. Read Full Lesson →
What About Second Mortgages and Liens?＋
Junior mortgages, judgments, taxes, HOA balances, and other liens may require separate approval or negotiated payment before closing. Read Full Lesson →
Will I Owe Money After the Sale?＋
Deficiency rights, tax consequences, relocation incentives, and release language vary. Homeowners should review approval letters with qualified legal and tax professionals. Read Full Lesson →