A clear path through
a complex sale.
Every loan and property is different. These are the decisions to understand, not a guaranteed timeline.
1. Start with your goal and deadline
Do you want to keep the home, or is moving necessary? Note any written notices and scheduled dates. Speak with your mortgage servicer early. A HUD-approved housing counselor can help you understand available assistance.
2. Assess value, liens and alternatives
A sale may not need short sale approval if available proceeds cover the amounts required to close. Review a current valuation, estimated costs and all liens with qualified professionals. Compare a traditional sale, retention options and other resolutions before committing.
3. Ask your servicer what it requires
Requirements vary. A servicer may request hardship information, financial documentation, a purchase offer and other materials through its secure process. Keep a dated log of requests, submissions and responses. Do not send sensitive documents through this preview site.
4. Market the home and evaluate an offer
Work with an appropriately licensed real estate professional. An accepted buyer offer does not itself equal lender approval. Approval may involve multiple lienholders, valuation review and negotiation.
5. Review written approval before closing
Confirm price, approved costs, deadlines and how each debt will be treated. Have an attorney review unresolved liability questions, and a tax professional review potential cancellation-of-debt consequences. Do not assume approval of a sale answers every question.
6. Close only when conditions are satisfied
Your transaction team should coordinate the written approvals, escrow requirements and closing dates. Retain the final approval letters, settlement records and relevant tax forms.
You do not have to figure it out alone.
Organize your questions, understand the next decision, and prepare for a confidential conversation.