What is a Short Sale?

A Short Sale occurs when the lien holder agrees to release the lien for less than is owed.
Example: Let's say you bought your house at the height of the market for $450,000. Business was booming, you and your spouse were gainfully employed and finally able to afford that bigger better home you'd been dreaming of. Fast forward a few years. The housing bubble burst. Your spouse was diagnosed with cancer and is unable to work, and you had to drastically reduce your hours to care for them. You tried to sell your home, but it's only worth about $325,000 now. Your mortgage holder may agree to let you sell your home for $325,000, a $125,000 loss to them, and a fresh start for you.

Who qualifies to do a Short Sale?

If you are experiencing a long term financial hardship and cannot afford to keep your home, you most likely qualify. This could be due to a myriad of reasons such as health problems/illness, job transfer, unemployment, reduction of hours, divorce, death, etc.

What's in it for me?

If you are facing a foreclosure date, we may be able to get that date postponed or cancelled altogether. Often times the mortgage holder forgives most if not all of your mortgage debt, although this is strictly up to your mortgage holder. You may also qualify for a government assistance program which provides you with cash to help with moving expenses.

What are my other options?

1. Pay cash to bring the loan current
2. Attempt a loan modification
3. Refinance
4. File bankruptcy
5. Rent the property
6. Sell the property
7. Deed in Lieu (voluntary foreclosure)
8. Do nothing and proceed to foreclosure

How much does a Short Sale cost?

Zero. Zilch. Nothing. Our services are paid for by your mortgage holder. There are no out of pocket expenses for you. It absolutely breaks our hearts to hear about people who pay hundreds and thousands of dollars to scam artists who promise to save them from foreclosure. Don't do it!

How long does it take?

This is where it gets tricky. The average time is 4-6 months, although sometimes it can stretch beyond that. Each situation and property is completely different. The biggest delay typically occurs when a buyer gets impatient or loses interest and walks away from the transaction. If that happens, we find another buyer and move forward with getting bank approval.

Do you work with my bank/mortgagee?

Yes! We work with Bank of America, Wells Fargo, Nationstar, Ocwen, Chase, Specialized Loan Servicing, Specialized Portfolio Servicing, KeyBank, Flagstar, US Bank, GreenTree Servicing, HSBC, USAA, Seterus, and local banks and credit unions.

I have additional liens against my property; can I still do a Short Sale?

Most likely yes. We have been successful with getting these types of liens settled: past due property taxes, credit card judgments, federal and state tax liens, OR Department of Revenue liens, small claims judgments and more.

There are a lot of factors to consider before deciding to pursue a Short Sale. Sometimes we help our clients realize that it is not their best option at the moment. If you'd like to discuss your scenario, Tyler & Apryl would be happy to meet with you and hear your story.

In the meantime, check out our Testimonials page to see what some of our past Short Sale clients had to say about us.