A short sale is the sale of a property for an amount that is less than what is currently owed. If your home is worth less than the amount you owe on your mortgage, then your best option is to short sale. We speak directly with your bank and the loss mitigation department to save your credit from a foreclosure and remove bad mortgage debt.
First, your lender will agrees to a short sale on the property due to a hardship. The lender then accepts an offer from a qualified buyer at the current market value and takes a loss on the loan. It is a benefit to the lender to proceed with a short sale rather than foreclose on your property. This lets the lender avoid future costs, such as auction fees, declining property value, and attorney fees.