- Short sale: A real estate appraisal may confirm that your home will likely sell for less than what you still owe on your loan. In that case, would agree to accept less than your full loan amount but still consider your loan paid in full.
- Loan assumption: If you find a qualified buyer who is willing to take over your mortgage, you could transfer your loan to them. But your mortgage/deed of trust must state that the loan is “non-assumable,”
- Deed-in-lieu of foreclosure: You may qualify for this option if your home has been on the market at a fair market value for at least 90 days but has not sold. You agree to voluntarily turn over ownership of your property to the lender, and they agree to release you from your mortgage loan.
Keep in mind that all of these sales options will hurt your credit.
THERE IS ANOTHER OPTION IF NEED TO SELL YOUR HOUSE AND SAVE YOUR CREDIT! CALL US FIRST
There is one other option that saves you from having a blemish on your credit for 7 years, so you have a chance to rebuild your life. We’ll explain the best possible options for selling your home, minimizing damage to your credit and preventing foreclosure at no cost to you. Live Chat is available to help you with your needs