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.
A short sale, also known as a pre-foreclosure sale, is 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. Depending on your situation, you may be required to make a financial contribution to receive a short sale.