Facing Foreclosure? You Have Options. Let's Find the Right One.
When keeping up with mortgage payments is no longer possible, knowing what to do next can be difficult. A short sale may be an option, but it's important to understand how the process works and what it means for your situation.
Get straightforward answers, experienced representation, and guidance on your next steps.
What is a Short Sale and How Can It Help?
A short sale allows a homeowner to sell their property for less than the amount owed on the mortgage, with the lender's approval.
For homeowners who can no longer afford their mortgage, a short sale may provide an alternative to foreclosure.
The process involves more than simply listing a home for sale. It requires communication with the mortgage servicer, careful documentation, property valuation, and negotiation to obtain lender approval.
Every situation is different.
Understanding your options early can make a significant difference in what happens next.
What Your Short Sale Realtor Does For You
A short sale involves more than finding a buyer. It requires a strategy, careful coordination, and someone who understands how to work with mortgage servicers throughout the process. Your lender requires a short sale realtor who will work with you throughout the entire process. Because we specialize in this area of real estate, we are familiar with the process and will use our expertise to work hard on your behalf.
Four areas of representation:
Evaluate Your Options — Review your situation and determine whether a short sale may be appropriate.
Develop a Selling Strategy — Evaluate the property's condition, market value, and pricing to attract qualified buyers.
Manage the Lender Process — Coordinate documentation, Negotiate with the mortgage servicer, and address valuation or approval issues.
Guide You Through Closing — Work with the parties involved to resolve outstanding issues and move toward a successful closing.
Have Questions? Let's Start Here.
Can I sell my home if I'm behind on mortgage payments?
Yes. Being behind on payments doesn't prevent you from selling your home. Depending on your property's value, mortgage balance, and financial situation, a traditional sale or short sale may be possible.
What is the difference between a short sale and foreclosure?
A short sale is a voluntary sale of your home for less than the mortgage balance, subject to lender approval. Foreclosure is the legal process through which a lender enforces its rights after a borrower defaults. A short sale may provide an opportunity to sell before foreclosure occurs.
Do I have to be behind on payments to qualify for a short sale?
Not necessarily. Some lenders consider short sales when a homeowner is experiencing a qualifying financial hardship, even if payments are current. Eligibility depends on the loan type, lender, and individual circumstances.
How much does a short sale cost me?
In many approved short sales, real estate commissions and certain closing costs are paid from the sale proceeds, subject to lender approval. Homeowners should understand any potential out-of-pocket expenses before proceeding.
Will a short sale affect my credit?
A short sale can negatively affect your credit, particularly if you've missed mortgage payments. The impact varies depending on your credit history and how the mortgage is reported.
Can I stop foreclosure by listing my home for a short sale?
Listing your home does not automatically stop or postpone foreclosure. A lender may agree to delay a scheduled foreclosure sale while reviewing a short sale, but that decision must be confirmed.
How long does a short sale take?
Timelines vary depending on the lender, loan type, required documentation, and property circumstances. Some transactions move relatively quickly, while others take several months. Starting early generally provides more time to address complications.
What if I already have a foreclosure sale date?
You may still have options, but time is critical. A scheduled foreclosure doesn't necessarily mean it's too late to pursue a short sale. However, your lender must agree to postpone the foreclosure, and that approval isn't guaranteed.
The sooner your situation is reviewed, the better we can determine what's possible.
What Our Clients Say
"Monica was absolutely great and very responsive, she would answer any questions I had and if she didn't know she would get answers. I HIGHLY RECOMMEND.."
- Greg M.
Willis, TX
"Working with Monica was an amazing experience for me. Selling my home was a stressful process and she took my anxieties away by being patient, prompt, and reassuring throughout the entire process. I’m forever grateful to have had her as my realtor and would highly recommend her to future sellers. Her level of professionalism exceeded my expectations and I am now stress free thanks to her!."
- Cam C.
Houston, TX
"Monica helped us with our short sale. She is very knowledgeable and was very patient thru the whole process . I would recommend her strongly for any real estate transaction."
- Gonzo G.
Humble, TX
Let's Talk About Your Options
Whether you're looking for help with your own home or referring someone who needs assistance, complete the form below and we'll be in touch.
Houston Short Sale Experts
Monica Morales | REALTOR®
Brokered by Realty of America, LLC
