Options for Selling Your Home

A pre-foreclosure sale is when you sell your home, pay the mortgage in full and take advantage of any equity you’ve built.

You may be eligible for a pre-foreclosure sale if:

• You can't afford your monthly mortgage payments and expenses

• Your home is worth more than you owe

A short sale occurs when the lender agrees to discount the loan balance due to hardship and allows you to sell the property at fair market value. Upon completion of the short sale, you may even receive relocation assistance.

You may be eligible for a short sale if:

• You can't afford your regular monthly payment and expenses

• Your home is worth less than you owe

This option allows you to shift ownership of your home back to your lender or investor instead of facing foreclosure. If the property is free of liens or title restrictions, you may receive relocation assistance after completing a deed in lieu of foreclosure.

You may be eligible for this option if:

• Your property is considered safe, left in good condition and ready for sale, clear of all personal belongings and reasonably clean upon your departure

• You can’t afford your regular monthly payment or a slight increase in your payment, plus other monthly expenses

• You don’t have substantial funds left at the end of the month