Can you no longer make your mortgage payments due to changes in your financial situation? Today, 1 out of every 6 homeowners in America is behind on mortgage payments, so you are not alone. Before you decide to let the bank foreclose, why don’t you consider exploring a short sale for your property?
What is a short sale?
A short sale is when a bank allows the homeowner to sell a property for less than the amount owed.
How do I get approved for a short sale?
I’m not going to lie, a short sale is a tremendous undertaking. In order to get it approved we submit to your lender the reason why you can no longer make your payments, with items to back up your situation, along with a ratified contract. They then review your file and determine if you meet the criteria for approval, and if the contract we have presented is a price they are willing to accept.
Does everyone get approved?
The short answer is no. I can make no promises, but I will do everything I can do to help you have the best chance at approval.
What are the benefits of a short sale?
A short sale allows you to avoid foreclosure and salvage some of your credit rating. You may qualify for another mortgage in as little as 24 months, instead of the five years that is customary for foreclosures. It may also help you avoid a deficiency judgement.
Will I have to bring money to the table or sign a note at closing?
That will totally depend on your lender and your individual circumstances. Beginning the short sale process does not obligate you to accept a deal from your lender that will require you to bring money or sign a note.
Can any Maryland agent do a short sale?
For the most part yes, though sometimes individual companies will require agents to receive training if they plan to work short 
sales. But with all the complexities of short sales, you need an experienced Maryland short sale agent to help guide you through the process. I have earned the Certified Distressed Property Expert® (CDPE) designation and I would be happy to sit down with you and discuss your individual case.
There is a lot of misinformation out there about short sales. A short sale is not a traditional real estate sale with more paperwork, but is a whole other realm in the real estate world. To find out more, please complete the brief form below and I will get back to you to set up a consultation.
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Shauna Sefsic and Keller Williams assumes no responsibility nor guarantees the accuracy of this information and is not engaged in the practice of law nor gives legal advice. It is strongly recommended that you seek appropriate professional counsel regarding your rights as a homeowner. Shauna Sefsic and Keller Williams is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.
