What If I End Up With A Deficiency?

In a short sale, you sell your home for less than the total debt balance remaining on the mortgage. The lender agrees to accept the sale proceeds and release the lien on the property. The proceeds of the sale pay off a portion of the mortgage balance. Short sales are one way for borrowers can avoid foreclosure.

What is a deficiency?

Since the sale price is “short” of the full debt amount in a short sale, the difference between the total debt and the sale price is the “deficiency.”

Example. Say you are approved by your lender to sell your property for $200,000, but you owe $250,000 on the mortgage. The difference ($50,000) is the deficiency.

There is a Solution - Normally – if the property goes into foreclosure and there is a deficiency the bank has the right to come after you for the deficiency debt.  When we negotiate short sales we work on getting this deficiency debt waived so that you don’t have to worry.   Feel free to call us to learn more about this process.

Alexandria Short Sale Approved

Wells Fargo Relocation Short Sale Approved!

This short sale approval has been a long time coming! After months of hard work, the bank rejected our initial offer and countered $40,000 above contract price! While those buyers weren’t able to continue, we found another buyer who was able to come in at bank asking price. Now, we finally have the approval!

Remember: when doing a short sale, patience and a willingness to negotiate with the bank is MUST. Agents who aren’t experienced in short sales don’t always understand this. If you are looking for an experienced agent to handle your short sale, our team can help! Call today at 703-212-3344 for a free phone consultation today!


HSBC Short Sale Package


1 Front Exterior  10408 Pearl Street, Fairfax, VA  11 05 2014 sold













Check out the CAZA D.A.D’s recent successful HSBC Short Sale Package

Almost 80k in deficiency debt waived! This short sale had 2 liens with HSBC (HFC), the second of which took a net proceed of $0! The best part, our negotiators made sure the sellers could not be held liable for the difference.

We also helped these sellers find themselves a new home to rent for the next 2 years while they rebuild their savings and credit. Our mission is to help struggling home owners fix their problem property and get on to a better situation.

If you are struggling to make payments on your mortgage and don’t think your house is worth what you owe, a short sale might be right for you. Call our team at 703-212-3344 for a no-obligation consult to see if we can help you escape your property situation!