California Short Sale Resource Center
A short sale is a sales transaction for which a seller's mortgage lender voluntarily agrees to accept a loan payoff of less money than what is owed on the mortgage loan. In a short sale, the property may or may not be in foreclosure. However, homeowners may consider short sales as a viable option for avoiding foreclosure.
The short sale process can be uncharted waters for many home buyers and sellers, therefore it is necessary to understand exactly what you are getting yourself into. By doing your homework, you will also be better prepared to submit a complete package. Every short sale is unique. Explore the resources below to learn more about what YOU need.
Which bank are you working with?
Are you looking for some extra help?
The U.S. Department of Housing and Urban Development (HUD) sponsors housing counseling agencies throughout the country and is available in many different languages.
Find a housing counselor on the HUD.gov Web site >
Do you know and understand your credit score?
Your FICO® score is a determining factor in credit offers and interest rates, and is based on your credit history. It is important to know and understand your FICO® score when involved in a short sale. This number is used by lenders to evaluate your credit risk. To learn more about this and calculate your score, click here.
Click this link for information on HAFA Short Sales - What is HAFA?