When homeowners owe more on their mortgage than their property is worth, and they are unable to keep up with payments, a Short Sale can offer a viable solution. American Mortgage Help specializes in guiding homeowners through the short sale process, providing a way to sell your property and settle your debt without going into foreclosure.

What is a Short Sale? A short sale occurs when a homeowner sells their property for less than the amount owed on the mortgage, with the lender’s approval. The lender agrees to accept less than the full amount owed and releases the homeowner from the remaining debt. This option allows the homeowner to avoid foreclosure, which can have long-term consequences on their credit score and financial future.

How Does a Short Sale Work?

• Consultation and Eligibility: We begin with a consultation to evaluate your current financial situation and determine if a short sale is the best option for you.
• Lender Negotiation: Once you’ve decided to proceed with the short sale, our team works closely with your lender to negotiate the sale terms. This involves submitting a package to the lender that includes financial documents and proof of hardship.
• Selling the Property: Once the lender approves the short sale, you can list your property and sell it. The proceeds of the sale will go toward paying down the mortgage, with the lender agreeing to forgive any remaining balance.

Why Choose a Short Sale? A short sale can offer several benefits over foreclosure:

• Less Damage to Credit: While a short sale can affect your credit, the impact is generally less severe than a foreclosure.
• Relieves Debt: A short sale can eliminate the remaining mortgage debt, providing you with a fresh financial start.
• Avoids Foreclosure: A short sale allows you to avoid the long-term consequences and stigma of foreclosure.

At American Mortgage Help, we have the expertise to manage every aspect of your short sale. From lender negotiations to finalizing the sale, we are committed to providing you with a smooth and efficient process.