Can I short sell my home if I’m not behind in my mortgage payments? The answer to that is if the lender will negotiate with whoever’s negotiating the short sale for you, you can. Our experience has been that many lenders are very, very reluctant to discuss with you the short sale. Now if you want to sell your home and the sales price is less than the full mortgage amount and you want to preserve your credit, you are in a position to pay the difference between the mortgage and what you sell your home. Or work out an arrangement with the lender so you can pay it out over time. But the key to selling it, if you want to be released from liability and not have to pay the deficiency between the amount that you sell the property on and what you owe the lender is getting the lender to go along with it.
And as I’ve indicated, most lenders are very reluctant to enter in to those negotiations. In fact some lenders have told certain borrowers that “Well we’re not gonna talk to you until you quit making your payments for two months. After you quit making your payments for two months, call us back and see about negotiating the sale.” Which bothers some people because then that’s going to affect their credit and they would like to preserve their good credit. So if you have any questions about short sales well give me a call at 727-847-2288. Thank you.