If you can not refinance or modify your loan and are facing foreclosure, your best option may be a short sale. Selling your home before the Trustee Sale Date could be the best option for someone who does not want to keep their property.

In many cases your home may be worth less than the amount you owe and selling your home for more than current market value is impossible. In this scenario the lender may be willing to accept a payoff for less than the amount of your loan. 



This option will only work if you can prove to lender or servicer that a foreclosure sale will result in less money to the lender than a short sale payoff. If the lender agrees to the short sale, you may avoid the possiblility of a deficiency judgment as well as a foreclosure on your credit report; the lender benefits by recovering more funds from the short sale than it would receive in a foreclosure sale.

Interested in a Short Refinance ?