Top Ten Short Sale Questions Asked By Houston & Spring TX Homeowners

Real Estate Agent with Trademark Loss Mitigation

Top Ten Short Sale Questions Frequently Asked By Houston & Spring TX Homeowners

Question # 1:  What is a short sale?

Feeling Trapped By Your Mortgage

Short Sales Can Be A Complex Experience for Houston and Spring TX Homeowners

Conducting a short sale on a home with a distressed mortgage can be a complex experience for any homeowner. Knowing one's options in a short sale and understanding the process can make the experience more successful and much less stressful.  To assist homeowners in understanding the process, we have prepared a series of 10 blogs.   Each blog answers one of the top ten short sale questions frenquently asked by Houston and Spring TX homeowners.



What is a Short Sale?



What Is A Short Sale?

A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth, in other words the home has negative equity or is "upside down". In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions.

A homeowner is 'short' when the amount owed on his/her property is higher than current market value. A short sale occurs when a negotiation is entered into with the homeowner's mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then 'sold short' of the total value of the mortgage.

For homeowners to qualify for a short sale, they must fall into any or all of the following circumstances:

  1. Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
  2. Monthly Income Shortfall – In other words: "You have more month than money." A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
  3. Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

HAFA Short Sale

What Is Home Affordable Foreclosure Alternatives Program HAFARecent changes in lending institutions and the government have also improved the chances of getting a short sale approved.  The bank doesn’t want to foreclose on your home, and short sales are more common than ever before.For example, while many families have received help through the Home Affordable Modification Program (HAMP), far too many won’t be able to keep their home even with a loan modification. For these families, the Treasury Department has established a new short sales program called the Home Affordable Foreclosure Alternatives Program or HAFA (Click here for more information).

A HAFA short sale is designed to streamline short sales by providing a uniform process and standard forms, as well as incentives for families and their mortgage servicers to complete the process. It offers homeowners who sell their homes under a HAFA short sale $3,000 to help cover their moving costs. HAFA may be able to help you through the difficult process of selling your home and moving to another home.


If you are struggling with your home payments,  you’re not alone. An estimated one fourth of all U.S. homeowners are upside down on their mortgage—meaning they owe more on their home than it is worth – and millions are behind on their payments.

Often the best solution for homeowners in this situation is a short sale. The situation is complicated and the stakes are high. Never has it been more important to have a local market advocate on your side.  Contact me today and let’s get started!


Certified Distressed Property Expert AgentAs a Certified Distressed Property Expert (CDPE), I make it my business to know all of the ins-and-outs of the options that are available for people who are in danger of losing their homes. Even if you are not specifically eligible for a short sale, it is important to remember one thing:

THERE ARE OPTIONS! Contact me today and schedule your free, confidential consultation.



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Houston TX, Spring TX short sale specialistThe Trademark Loss Mitigation team is a family owned business and  includes a multi-state network of real estate agents, attorneys, title companies, short sale negotiators, credit repair providers, mortgage providers, inspectors and investors. Together, those professionals act as a NO COST short sale outsourcing solution for Realtors and Homeowners.

Jim McNinch, Certified Distressed Property Expert (CDPE);

Short sale agent, Short sale specialist



Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Gabe Sanders 06/03/2012 09:10 PM
Home Selling
Short Sales Specialists
what is a spring houston tx short sale
what is hafa home affordable foreclosure alternative program
stop foreclosure houston spring tx

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Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Jim - There's a wealth of great information here for homeowners facing financial difficulties. They would be well-advised to contact you for expert assistance.

May 31, 2012 12:41 AM #1
An Idabel OK Broker ~ Judi K Barrett
Judi Barrett~Integrity Real Estate Services~Idabel, Oklahoma - Idabel, OK
BA, Integrity Real Estate Services -IDABEL OK

A short sale seems to be the plan of many these days..  So glad they can find great info such as your post.

May 31, 2012 11:49 AM #2
Susan Neal
RE/MAX Gold, Fair Oaks - Fair Oaks, CA
Fair Oaks CA & Sacramento Area Real Estate Broker

We have been so overwhelmed by short sales in every market, and they have been in the news so often, that we forget that many consumers still do not understand what a short sale is.  Some have no clue and others have a vague idea but are very confused.  This is a good post to explain short sales to those folks.

May 31, 2012 03:57 PM #3
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Jim, I am not sure how long these short sales will continue and hope for the best. It is always beneficial to work with agents/brokers who are CDPE or have special knowledge of short sale process.

May 31, 2012 04:28 PM #4
Robert L. Brown - Grand Rapids, MI
Grand Rapids Real Estate Bellabay Realty, West Mic

They are flooding the market here as well. They CAN be good deals but the the banks need to do a better job of getting the deal done in a timely manner

May 31, 2012 11:43 PM #5
Jim McNinch
Trademark Loss Mitigation - Spring, TX
Short Sale Specialist, Texas

Susan:  The sad part is about six months ago CoreLogic reported that over 60% of homeowners that foreclose never seek the assistance of a real estate professional.

Jun 01, 2012 12:42 AM #6
Kim Carlson 480-993-9384 - Mesa, AZ
Valley of the Sun Realtor, Seller Specialist

Hi Jim, this looks great. Nice presentation! Have a good weekend!

Jun 01, 2012 02:43 AM #7
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Jim - We hear the words short sale day in and day out, and we need to remember that the consumers often don't understand them.

Jun 01, 2012 02:41 PM #8
Elva Branson-Lee
Solid Source Realty GA - Atlanta, GA
CDPE - Atlanta Real Estate & Short Sale Agent

Good job on getting the word out, Jim. Short sales are a big part of the answer to solving the current housing crisis,

Jun 02, 2012 12:38 PM #9
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Jim McNinch

Short Sale Specialist, Texas
For No Cost short sale assistace, contact me now!
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