Calculate short sale for real estate investments and properties
Enter home value, loan balance, selling costs, and lender discount. The calculator shows if a short sale is feasible and deficiency amount.
Home worth $280,000, owe $320,000, selling costs $25,000. After sale proceeds of $255,000, shortfall is $65,000. Lender must approve.
Selling property for less than mortgage balance with lender approval. Lender accepts less than owed to avoid foreclosure costs. Better for your credit than foreclosure.
Depends on lender and state. Some approve full forgiveness; others may pursue deficiency. Get forgiveness in writing. May also have tax implications.
3-6 months typically. Lender must review offer, order BPO/appraisal, get investor approval. Keep making payments during process if possible to avoid foreclosure.