Are you Eligible for a Short Sale?

You might be a candidate for a short sale if your property is valued at less than what you owe and you can prove a long-term hardship. The lender must approve the short sale and, in most cases, agree to accept the lower amount as the full and final payment on the loan. Short sales mean a loss for the lender, however, lenders may agree to a short sale if they believe it will be a better option than foreclosure. A short sale offer may be comparable to the value a property could bring at a foreclosure auction.