Real Estate Rescue Network
 Call us at: 816-875-8481

The Top Ten Short Sale Questions Answered

Q. I can’t make my house payments, but I do have an ability 
to pay back all or part of the negative equity. Also, I want to 
preserve my credit score…is a short sale right for me?

A. Probably not. In cases where the seller can pay back all or 
part of the negative equity (usually to the 2nd lien holder) it 
makes sense for them to work out a repayment plan. The
 lender will then release the lien and allow the home to close. 

Q. If I pay mortgage insurance but default on my loan, 
why wouldn't that cover the deficiency amount?

A. The mortgage insurance is not there for your protection, 
it only protects your lender.

Q. Do I have to have my home approved by the lender prior to 
offering it for sale as a short sale?

A. No. Technically speaking there is no such thing as being short sale approved. The actual approval only happens with an accepted offer from a qualified buyer. 

Q. I just missed a payment and I know I will miss more. How long does the foreclosure process take and is there time to do a short sale?

A. The foreclosure process takes differing times depending on your state. In the Midwest a foreclosure can take over a year. In California it’s taking 6+ months. Generally speaking a well-priced short sale being processed by an educated short sale listing agent will sell and close in less than 120 days. 

Q. Will I still have to pay property taxes if I do a short sale?

A. Property taxes will always have to be paid as part of any accepted short sale. Whether it’s you or the lender depends on their policies and the specific agreement you reach while negotiating the short


Understand 
Your Options!
















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Get the Help You Need... Now!
Members of the Real Estate Rescue Network Team are advocates for individuals and families with distressed properties. Through our experience and extensive training, and that of our strategic partners, we support homeowners as they deal with challenges during this unprecedented time in real estate history. Our network’s goal is to educate homeowners and help them explore every option available so they can make informed decisions regarding their futures. Having a network of competent professionals who are dedicated to seeing homeowners weather the storm with dignity, integrity, independence and without abuse, neglect, and exploitation is where we start. 

Beginning with the goal of home retention we evaluate a number of aspects, including a comparative market analysis of homes in the area, expert opinions of the future of the real estate market, and the homeowner’s current and projected financial situation. If it is not possible to keep the homeowner in their home or they feel it is more financially prudent to move on, our trained real estate professionals endeavor to facilitate a short sale to preserve the quality of the homeowner’s credit. After a Realtor® has found a buyer for the home our experts handle all negotiations with the servicer on the homeowner’s behalf. If it is necessary for the homeowner to move, we assist by recommending other qualified professionals to aid in the transition. But, we don't stop there. Looking to the future we suggest families begin working immediately with our credit repair specialists, so that when the market shifts to a more favorable position they are ready to buy.

We don’t like to consider foreclosure an option. The Real Estate Rescue Network is your complete resource from A to Z. Give us a call today at 
816-875-8481.

Real Estate Rescue Network

Members of the Real Estate Rescue Network are advocates for individuals and families with distressed properties. Our network’s goal is to educate the homeowner. We guide homeowners to explore every option, beginning with home retention. All Services Provided by the Real Estate Rescue Network are FREE!