The Real Cost of Ignoring a Short Sale Option

The Misleading Word “Short”

Many homeowners think a “short sale” means a quick, simple transaction. In reality, the "short" refers to the amount the lender receives, not the time it takes. Short sales can take time and careful negotiation, but they’re far less painful than waiting for foreclosure.

What Foreclosure Really Costs You

If you ignore the short sale option and let a foreclosure happen, the costs are significant:

• A foreclosure can drop your credit score by 150–200 points and remain on your report for up to seven years.

• It can prevent you from qualifying for a new mortgage for three to seven years.

• You could still owe a deficiency judgment or face tax liabilities on the forgiven debt.

• The emotional toll of relentless collection calls and court filings can’t be overstated.

Why Acting Early Saves You Time, Money, and Stress

Starting a short sale process early puts you in control and reduces stress for everyone involved. Lenders often prefer a short sale to foreclosure because it saves them money too. Acting sooner can:

• Stop fees and interest from piling up.

• Show your lender that you’re cooperating, which helps preserve your credit standing.

• Qualify you for lender-funded relocation or cash-for-keys programs that can put money in your pocket at closing.

The Smarter Alternative to Waiting It Out

Ignoring your mortgage problem won’t make it go away. Every month you delay narrows your options and increases your liabilities. Acting quickly with a short sale can:

• Halt foreclosure proceedings before they spiral.

• Get you help from experts who help homeowners avoid foreclosure every day.

• Protect your ability to buy again sooner while limiting your financial liability.

Working with experienced negotiators makes the process smoother. At Crisp Short Sales, we handle negotiations, paperwork, and timelines at no cost to homeowners. We’ll even help you access lender relocation assistance and cash-for-keys programs that provide money at closing.

Final Thoughts

Waiting until the last minute can cost you tens of thousands of dollars and years of credit damage. A well-managed short sale gives you a fresh start without the scars of foreclosure. If you’re facing financial hardship, don’t wait—start your short sale now and protect your future.