Short Sales

by Nina Sable and Claudia Shepherd Sable Homes Metro-West, Downsizing and Estates 04/08/2024

A short sale is a transaction in which the lender, or lenders, agree to accept less than the mortgage amount owed by the current homeowner. In some cases, the difference is forgiven by the lender, and in others the homeowner must make arrangements with the lender to settle the remainder of the debt.

Since a short sale generally costs the lender less than a foreclosure, it can be a viable way for a lender to minimize its losses.

A short sale can also be the best option for a homeowners who are “upside down” on mortgages because a short sale may not hurt their credit history as much as a foreclosure. As a result, homeowners may qualify for another mortgage sooner once they get back on their feet financially.

About the Author

Nina Sable and Claudia Shepherd Sable Homes Metro-West, Downsizing and Estates

We make selling easy; by providing a range of essential services through our extensive network, including senior move managers, attorneys, clean-out specialists, home care providers, reverse mortgage specialists, and more.

Our streamlined approach bundles these services together, ensuring a seamless experience for buyers, renters, and sellers throughout the Metro-West region of Massachusetts, including Natick, Marlboro, Sudbury, Wayland, Framingham, Ashland, Wellesley, and beyond.

Geography is no barrier—we assist families within and outside the state, offering our unique Refresh program where you pay at closing for decluttering, clean-outs, and staging