HomeLight

OCTOBER 30, 2020

Whatever stage you’re in, it’s natural to feel paralyzed with disappointment, sadness, and a sense of panic when those overdue notices and warnings come from your mortgage company. If your sale proceeds won’t cut it, the next question is whether you could bring money to the table to cover those costs. What about pursuing a short sale?

Short sale 104

Short sale Banks Equity Mortgages 104

HomeLight

JULY 25, 2022

Deduct your outstanding mortgage balance and any costs of selling you incurred (such as real estate commission, closing costs, title fees, repairs, prep, and staging). Forgiven debt can include a short sale, foreclosure, deed in lieu of foreclosure, or loan modification. Expect to pay 9%-10% of the sale price.

Closing costs 89

Closing costs Equity Short sale Agents 89

HomeLight

JULY 25, 2022

Choose a short sale: If you’re behind on your mortgage payments or owe more than the home’s current value, you may want to think about a short sale as a way to avoid foreclosure. That can include a short sale, foreclosure, deed in lieu of foreclosure, or loan modification. Seller concessions (2%-6%).

Closing costs 86

Closing costs Equity Short sale Sales 86