Short Sale

 

 
 
 
 
 
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.

What is a short sale?

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.
 
 

A short sale is an alternative to foreclosure and may be an option if:

  • You are ineligible to refinance or modify your mortgage
  • You are facing a long-term hardship
  • You are behind on your mortgage payments
  • You owe more on your home than it’s worth
  • You have not been able to sell your home at a price that covers what you still owe on your mortgage
  • You can no longer afford your home and are ready or need to leave
Contact us at (973)-378-3030 and a dedicated agent will explain more about a short sale and help you submit the necessary request form. We want to help you stay in your home, if possible.