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What Is a Short Sale?

A short sale is the sale of a real estate property for which the lender is willing to accept less than the amount currently owed on your mortgage.

There are a few things that need to be true in order for the bank to consider accepting a short sale:

  • You are unable to continue making mortgage payments due to Divorce, Job transfer, Illness or other major life events which may leave you facing foreclosure.
  • You owe more on the mortgage than what you will receive in a real estate sale and you will not have the cash available to make up the difference.

In many cases, the lender and homeowner will explore a short sale process in order to prevent the foreclosure process.

What Is a Short Sale vs. Foreclosure

Short Sale

A short sale is initiated by the homeowner and is on a voluntary basis. Lenders must approve the short sale process since the mortgage lender will be agreeing to an amount less than what the lender is owed on the mortgage. In most cases the lender would rather approve a short sale vs. the cost and time required to complete the foreclosure process. 


A foreclosure is initiated by the lender unlike the short sale process.  Then lender takes legal action in order to take control of the property and force the sale of the home. This process can take months and be very detrimental to a homeowners credit rating over the long term. 

How Does A Short Sale Affect My Credit?

A “Short Sale Will Appear On Your Credit As “Settled”

Short sale is a term describing a settlement reached between the homeowner and the lender. The term “short sale” does not appear in a credit report. When the account is reported to the credit bureaus the mortgage account is shown as “Settled” or Account Paid In Full For Less Than Balance.”

To learn more about credit bureau reporting related to a short sales vs. foreclosure follow click this link:

Timeframe: Once we get your info, we’re usually able to determine how we can best help you within 24 hours. From there, we can close as quickly as possible… Time is of the essence in most cases and it’s always best to act quickly and let us help you navigate the process.

Selling Your House Can Be A Quick And Simple Process

Fusion Real Estate Investment Group buys houses in and around  (and other areas too!). We’re not listing your house… we’re actually the ones buying your house. Because we pay cash, we’re able to close quickly… or on your schedule. Like we’ve mentioned, when you work with us there are no fees… like there are when you list your house with an agent. What this means to you is you don’t have to worry about extra costs, having to come out of pocket to sell your house fast, or even getting your house ready for a sale (we’ll buy your house as-is).

Don’t worry about repairing or cleaning up your property. We’ll buy your house in as-is condition… no matter how ugly or pretty it is… no matter the location.

Don’t be bashful let’s connect and see how we can help you…

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