Should I Short Sale My Home?

Short Sale House

Are you stressed out about mortgage payments? Do you think your only option is a foreclosure? Is a short sale right for you? Millions and millions of homeowners are asking themselves the same questions. It is projected that over 20,000,000 homeowners will have negative equity in their homes in the very near future. In other words, they will owe more on their homes than they are worth. Over 2.9 million homes have foreclosed in the last three years and the number is only expected to grow. Expect the effects of the estate recession to ripple for years to come.

 What can you do now?

 There is expected to be massive tsunami of homeowners who are simply making the decision to sell their homes through a short sale vs. staying in a home, hoping that one day it may be worth what they paid.

 No one is safe. News stories from across the country tell the tales of both celebrities and  average Americans who are all considering selling their homes through a short sale.

Selling your home through a short sale doesn’t need to be a shameful, life-ruining experience. Sometimes short selling your mortgage simply makes smart economic sense, especially for homeowners who find themselves “upside down” – that is, they owe more on their mortgage than their house is worth.


A short sale is when a lender accepts a discount on a mortgage to avoid a possible foreclosure auction or bankruptcy. For example: A homeowner, who is facing foreclosure, has an existing first mortgage of $500,000. The market value of the home is $350,000.

Long story short, the lender accepts the offer for $350,000 and the home is sold.

 That’s a short sale.

 Why are lenders so eager to take such a huge discount?  Banks do not like bad loans. If they see an opportunity where they can sell the property without the huge loss of a foreclosure, they will do it. Some lenders report that if the home goes into foreclosure by the time the home actually closes with the new buyer, the lender will be lucky to net 50% of the original loan balance.

 Bottom line from the lenders perspective?  They are in the business of lending money, not owning homes. If they can accept a short sale offer and rid themselves of the bad loan AND net more, vs the home going into foreclosure,  they will do it every time. It’s simply smart business.

 Time is not on your side when you are considering a short sale. You must act quickly and work only with a real estate expert who has successfully completed and graduated from advanced real estate education programs like HREU.


For more information please visit my website where you can read the entire web book “Should I Short Sale My Home”.  It is full of information about foreclosure and short sales and will  help you to understand how and why short sales work for many people.  Park Square Realty has helped many families just like you all over Western Massachusetts to deal with this situation. 

I am trained and experienced in helping people sell their home when they are in danger of foreclosure.  I have a network that includes attorneys who understand the process and will help you to get through this difficult time.  You are not alone and I am here to help.

For Help Contact:   Lesley Lambert, The Real Estate Natural at Park Square Realty



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