Will I owe any money after a short sale?

In most cases, homeowners who complete a short sale will not owe any money after the process is finalized. A short sale involves negotiating with the lender to sell the property for less than the outstanding mortgage balance. The proceeds from the sale are used to repay the lender, and any remaining debt is typically forgiven. However, it is crucial to consult with a real estate professional or an attorney to understand the specific terms and conditions of your short sale agreement. Some lenders may include a deficiency clause in the agreement, which could potentially require the homeowner to repay a portion of the forgiven debt. Nonetheless, Short Sale Solutions, LLC will work diligently to negotiate on your behalf and minimize any potential obligations post the short sale process.