Short Sale
In a short sale, your lender agrees to accept less than the full loan balance so the home can be sold. It's a common path when the home is worth less than what's owed.
The process
- Gather hardship documents and financial information.
- List the home and accept an offer from a buyer.
- Submit the offer and package to your lender for approval.
- Close once the lender issues a written approval letter.
Ask about the deficiency
Florida allows lenders to seek a deficiency — the difference between what you owed and what the sale brought in. Read your approval letter closely and ask for language that waives any deficiency. An attorney can review it for you.
Timeline
Lender approval can take weeks to months, so starting early matters. Tell your servicer as soon as you list the home.
Keep exploring
Home Preservation Program
A sale with a lease-back and a possible option to repurchase — not a loan or a guarantee.
Learn moreSell Before the Auction
A fast, as-is cash sale that can protect your equity and let you leave on your terms.
Learn moreLoan Modification
Permanently change your loan terms so the monthly payment fits your budget.
Learn moreYou don't have to figure this out alone
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