Short Sale Help

SHORT SELLING YOUR HOMESo your here, reading about short selling.  Hopefully we can answer most of your questions and help you make the right decision for yourself. People, who are looking to short sale, do so, generally because of a hardship. This does not mean you have to be down to your last nickel, it simply means you can no longer afford the property.

So, what is a Short Sale?
A Short Sale is when you sell a home and the proceeds do not fully pay off the existing loan(s) and the lender(s) accepts a discounted payoff to fully satisfy the loan.
The best part, the existing lender pays virtually all sales costs, including commissions, escrow and title fees. You get your home sold, the loan(s) are paid off and you avoid foreclosure. And right now lenders are approving short sales at record numbers, so if you are struggling with your mortgage, you should read further. Below are answers to many of the questions you may have about short selling your home.

How do I know my lender will approve a short sale for me?
Mortgage lenders are increasingly willing to work with borrowers faced with a financial hardship and accept a discounted payoff on a mortgage. If you are faced with a hardship that makes it likely you will be unable to meet your obligation on your mortgage, or if you are currently late, your lender would prefer to settle the matter with you as opposed to taking the property through foreclosure. As you consider the option of pursuing a Short Sale, remember your lender is looking to limit any potential loss on your loan. By completing a Short Sale, your lender has arrived at a solution that is, for them, much better than a foreclosure. The bank will actually net more money on a short sale transactions verses a foreclosure transaction. Bottom line, your lender wants to work with you.

I am current on my mortgage, will my lender consider a Short Sale?The answer is, maybe. Some lenders will accept a Short Sale file for approval on loans that are not delinquent. Other lenders will not accept the file until the loan is delinquent. We can put your Short Sale file together within a couple days and submit it for approval. (Remember, there is no charge for this). That is the best way to determine if your lender will accept a file for approval on a loan that is current.

If I Short Sale my home, how much will I have to pay to sell my home?
Nothing. It’s true, in most cases you will pay literally no costs if your lender approves the Short Sale. All commissions, title and escrow fees, are paid by the lender as part of the Short Sale approval.
Remember, lenders approve Short Sales and accept the resulting loss in an effort to avoid bigger losses through foreclosure.
Who do I contact to start a short sale?
You need a professional Realtor that has experience with facilitating Short Sales. It’s best to deal with someone who is certified and has years of experience in the field. Short Sales are complicated and require an expertise well beyond just selling a home.  Lisa Ammons is an experienced Short Sale specialist, certified by the National Association of Realtors. She can help you through the short sale process and has a dedicated team that focuses solely on bank negotiations. The consequences of foreclosure can be devastating and we are here to help you understand your options.

Lisa Ammons will guide you through the sale of your home and the lender negotiation process, taking the time to make sure you understand every step of the transaction. Our firm is absolutely committed to fulfilling your needs with the highest level of professionalism, expertise and service. Our commitment to your satisfaction is the foundation from which a solid business relationship is built. You can find out more about Lisa Ammons, her background and experience by visiting LinkedIn.

How do I get started on a Short Sale?
It’s easy. If you would like to get prequalified for a Short Sale, we can do it online.
If you would prefer to discuss it on the phone, or set an appointment call 772-285-7611. There is no charge for a consultation or even to short sell your home at Ammons & Co. All you have to do is fill out the form and our office will get right to work. If you later decide you don’t want to do a short sale, that’s okay too. We look forward to helping you.



Below is a list of documents you will need for your lender to consider a short sale.

  • 2 months banks statements
  • 2 years tax returns (or an extension form if applicable)
  • 2 Months Recent Pay Stubs ( for all persons on the loan)
  • Financial Statement (reflecting all bills and obligations)
  • Hardship letter ( explaining your situation)
  • Signed Authorization
  • Signed Listing Agreement


1. You pay no out of pocket expenses. Your short sale transaction will be an as-is sale, meaning you won’t have to bother spending time and money on tedious home repairs. Your lender also pays for all commissions and services on both sides of the transaction, giving you the least hassle possible in moving on to your next home.

2. Your credit damage is minimized. A short sale will have a recoverable impact on one’s credit, compared to the devastating effect of 250-350 points a foreclosure has on a credit score.

3. You can buy another home in just three years. Homeowners who choose to short sale only have wait  three years before buying a new home. Foreclosure prevents you from owning a home for up to 7 years under new lending guidelines.

4. You may qualify for relocation assistance. Yes, that’s right, you might be able to get cash when you short sell your home. Lenders are offering anywhere from $3000 to $10,000 in relocation assistance at the moment.

5. You have an assured sense of relief. Short sales in lieu of loan modifications give homeowners a firm new start. The Department of the Treasury just released a study revealing that 55% of homeowners re-default again within six months of receiving a loan modification.

6. You have a dignified solution to a difficult problem. A short sale allows you to stay in your home during the negotiation period. A foreclosure can become an embarrassing situation as a bank representative comes by to lock up the doors and windows, change the locks, and put up “bank owned” signs on your property while the local Sheriff is contacted to have you forcibly evicted.

7. You have not been able to secure a loan modification or the modification terms are unacceptable then short selling your home is a viable option for you.

Want more information on how a short sale can help you? We offer FREE phone consultations.

Complete and submit the following Online form. Lisa would be happy to discuss your situation and see how we can help you.  All information you provide is secure and will be kept strictly confidential.

For a free confidential consultation contact Lisa today at 772-285-7611.

** A short sale payoff of the mortgage may have tax consequences. You are advised to contact a tax professional to determine the extent of tax liability, if any. If you stop paying your mortgage you could lose your home and damage your credit rating.

Lisa Ammons is a leading foreclosure prevention specialist in the Treasure Coast. Foreclosure prevention services provided in Florida for the following cities; Stuart, Port St Lucie, Hobe Sound, Sewalls Point, St. Lucie West, Port Salerno, Palm City, Ft Pierce, Jensen Beach, Hutchenson Island and Jupiter.


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