What is a Short Sale ?

What is a Short Sale ?

A Short Sale is the sale of a home when sales proceeds do not fully pay off the existing loan(s) and lender(s) accepts a discounted payoff to fully satisfy the loan. A typical situation would be a homeowner suffering a hardship and their home's market value is less than what is owed to the bank. In the majority of these situations managed by the Jennifer Young Homes team, the existing lender pays virtually all sales costs, including commissions, escrow and title fees. The homeowner gets their home sold, the loan(s) paid off and foreclosure is avoided.

Is a Short Sale right for me?

Mortgage lenders are increasingly willing to work with borrowers faced with a financial hardship to accept a discounted payoff on a mortgage. If you are faced with a hardship that makes it likely you will be unable to meet your obligation on your mortgage, your lender would prefer to settle the matter with you as opposed to taking the property through foreclosure.

As you consider the option of pursuing a Short Sale, remember your lender is looking to limit any potential loss on your loan. By completing a Short Sale, your lender has arrived at a solution that is, for them, much better than a foreclosure. Bottom line, your lender wants to work with you.

How do I get started on a Short Sale?

It's easy. If you would like to get prequalified for a Short Sale, or simply ask more questions, you can email me at jenyounghomerescue@gmail.com or you can apply online by clicking here apply online now. If you would prefer to discuss it on the phone, or set an appointment call us Toll Free at 866-433-6474 or call my cell directly at 703-400-6757. We also have an agent to help our Spanish speaking clients, just call Mimi Tyrie at 703-542-3178.

Short Sale News


Read Jennifer's Blog

Just Listed Luxury Short Sale in Chantilly, VA – Almost 180th Short Sale by Jennifer Young in VA/MD/DC! http://ping.fm/nUyEz

Jennifer Young Homes Team Ranked in Top 100 Teams in USA by Wall Street Journal! http://ping.fm/S41A2

Military with PCS Orders Can Now Short Sale Their Fannie Mae and Freddie Mac Mortgage and Face No Deficiency Judgment or Request for Cash Brought to the Table! http://ping.fm/8WjGo

Just Listed Short Sale in Manassas, VA – Chase Mortgage Short Sale Priced Great for Market! http://ping.fm/M1bqn

Successful HAFA Short Sale – Chase Bank and Citi Mortgage Short Sale SOLD in Alexandria, VA http://ping.fm/bOl78

As of June 1st – Investments Properties Can Now Utilize HAFA Short Sale Program! http://ping.fm/q2493

Alexandria Short Sale Approved by Suntrust – Seller More Than $156,000 Upside Down on Mortgage! http://ping.fm/wZepS

Fannie Mae & Freddie Mac Face New 60-Day Turnaround on Short Sales Beginning June 15th! http://ping.fm/tN7iw

8 Short Sales SOLD in May by Jennifer Young Homes Team – Virginia Short Sale Experts! http://ping.fm/ddXcy

HAFA Short Sale SOLD in Locust Grove, VA – Bank of America Waived Deficiency Rights! http://ping.fm/khxWZ

Successful Short Sale in Alexandria, VA – Bank of America Waived Deficiency Rights on Short Sale of Condo in Sentinel of Landmark! http://ping.fm/cNfIq

Jennifer Young’s 139th Short Sale SOLD Today in Purcellville, VA – Lenders: One West Bank (Indymac) & Citi Mortgage http://ping.fm/ieN5o

Fredericksburg, VA Short Sale SOLD by Jennifer Young Homes – Chase and Citi Mortgage Agree to Waive Deficiency Rights After Selling Short! http://ping.fm/MRauS

Chantilly, VA Short Sale Approved by Bank of America – Deficiency Rights Waived After Short Sale of Condo! http://ping.fm/ZDDII

HSBC Short Sale SOLD in Centreville, VA – Sellers Says “Jennifer Young’s team is fantastic!” http://ping.fm/vqlaz

HSBC Short Sale SOLD in Centreville, VA – Sellers Says “Jennifer Young’s team is fantastic!” http://ping.fm/q4bi9

Nationstar Short Sale Approved in Culpeper, VA – 2nd Trust Also Approved by Bank of America http://ping.fm/sQdlr

Short Sale Testimonial – “The Jennifer Young team pulled though, got approvals and made sure that we went to closing on time!” http://ping.fm/VEck4

HSBC Short Sale SOLD in Centreville, VA – Condo Short Sale Was Prompted by the Lender and Closed Quick! http://ping.fm/6bjGX

Bank of America Works to Streamline Short Sales – Be AWARE It Includes a 3rd Party Company & BofA Decides Price! http://ping.fm/fMOHx

Fannie and Freddie Expected To Respond Faster to Short Sale Requests from Distressed Sellers http://ping.fm/whG7V

Manassas Park, VA Short Sale SOLD by JYH Team – Lenders on Investment Home Were JP Morgan Chase & Seterus http://ping.fm/n0wP3

Woodbridge, VA Short Sale SOLD by JYH Team – Bank of America Approved $2,500 in Relocation Assistance for Seller! http://ping.fm/VIiWQ

HAFA Short Sale Approved by Bank of America in Locust Grove, VA – Deficiency Rights Waived! http://ping.fm/iWMT8

Broadlands, VA Short Sale SOLD – AHMSI and GMAC Both Waived Deficiency Rights! http://ping.fm/BogTV

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