Emotions During a Foreclosure –Fear, Depression, Anger, Embarrassment

Real Estate Agent with Keller Williams Realty Louisville East (502) 664-7827

All this within the strict timeline of a looming foreclosure. Not enough time to become a legal expert or a real estate expert. Who do you ask? Who do you trust?

I am here to tell you that you have options. Good options.

Did you know that lenders accept short sales? In a short sale, the lender lets the house sell for amount SHORT of what you owe. Hence the term SHORT sale.

In an ideal short sale the lender will forgive the shortfall and you will never have to pay it back. That debt forgiveness is issued in writing. You get a copy, your short sale specialist Realtor gets a copy, and the closing attorney gets a copy. This is real and happens all the time.

You Are Strong. You Will Rebound. How Do I Know? Because You Are Reading This. You Are Not Giving Up. You Are Looking For A Solution.

If the house is bringing you down you can cut the line. A short sale is a good solution. It helps you avoid foreclosure and potential bankruptcy. In a short sale you are selling the house, not losing it. You are getting rid of the mortgage payment nightmare. There is life after a short sale. You can rent for a while and then come back in a stronger position.

Taking action gives a sense of purpose and hope

Call a short sale specialist Realtor.

Yes, call a lawyer. But be cautious of attorneys who automatically suggest you file bankruptcy. A short sale often enables you avoid bankruptcy.

If you are in a divorce situation, it's even more important you resolve the mortgage debt situation. Call a short sale Realtor who specializes in divorce short sales.

But who pays the Realtor’s commission?

The short sale lender allocates money from their proceeds to pay the Realtor. They know the seller doesn’t have the money, so they pick up the tab for you. The bank does not want to own your home, so they will pay your expenses.

Take a stand. Take action. You can do it!

Get a professional who will do the heavy lifting while keeping you in the driver’s seat.

You can do it. Please pick up the phone and start your road to recovery.

Posted by



Dave Halpern, Realtor

The Dave Halpern Real Estate Group

Keller Williams Realty Louisville East

Website David.DavidHalpernRealtor.com

(502) 664-7827



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Carla Harbert
www.LorainCountyHomeSales.com - Avon, OH
RE/MAX Omega: Lorain-Medina County Area

Excellent advice and terminology for those contemplating a short sale on their home.

Jun 05, 2011 02:56 AM #1
Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR
I have to agree on the emotions from a seller. However, taking action does empower one during these times of need.
Jun 05, 2011 02:59 AM #2
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Dave, There is life after a short sale. For most, processing the emotions associated with the thought (risk) of foreclosure is challenging. In the end, for most … it all boils down to relief. I agree with Harry (#2) that taking action is empowering.

Jun 05, 2011 04:18 AM #3
Brian Madigan
RE/MAX West Realty Inc., Brokerage (Toronto) - Toronto, ON
LL.B., Broker


This is all good advice and I hope you get your message across. In Toronto, we really don't have any upside down properties.

Short sales only take place in the business context.


Jun 05, 2011 11:27 AM #4
Keith Nash
Realty Executives Advantage - Saint Charles, MO

Great insight. 

Jun 05, 2011 09:02 PM #5
Goran Utvic
606 Homes LLC | Chicagoland Brokers Inc, Chicago IL 60656 - Chicago, IL
We Buy & Sell Chicago Houses Fast

Dave - Great Informative Post! Homeowners shouldn't let emotions get in the way whem facing foreclosure...a short sale could get them back on track to homeownership.

Jun 06, 2011 02:18 AM #6
Kathleen Vetrano
RE/MAX Gateway - Falls Church, VA
Helping YOU Achieve YOUR Dreams

Dave,  Doing a short sale is a very good alternative for people.  Most banks will direct people to do short sales instead of foreclosures once they know they are in financial difficulty.  Very good information.

Jun 07, 2011 07:49 AM #7
Karen Hawkins, MBA - Langley & Surrey, BC
Royal Pro Real Estate Network - Langley, BC

Hi Dave - such an important reminder for us as REALTORS(R) to help by providing guidance to those in the process of considering foreclosure.  Many lawyers will move right to the foreclosure - so good post to remind everyone to consider short sale options.

Jun 12, 2011 04:49 PM #8
Pacita Dimacali
Alain Pinel - Oakland, CA
Alameda/Contra Costa Counties CA

We should encourage and reassure the short sale listing agent who is going through the same range of emotions ---fear, depression, anger and embarrassment.

Jun 29, 2011 07:24 PM #9
Deborah Matthews

The options homeowners are now facing  when comforting  notices of mortgage default, foreclosures and shortsales. is extremely painful. Loosing your home is more than just the financial obstacles, it is the loss of family memories, neighbors, community and friends makes it all more devasting. As a real estate broker, I am a proponent of home retention, reviewing every possible avenue before leaving the home you have chosen for your family and longterm financial investment . I am happy to say, in many situations we were able to keep families in their homes. We are lead to believe via media families are loosing their homes because they purchased property above their financial means. Four million homeowners have lossed thier homes in foreclosure since 2007, all did not purchase above their financial means more than 80% are unemployed, underemployed, health issues or personal family circumstances. Thank you for opening a discussion on the emotional scars of this economic nightmare....the broka

Feb 10, 2012 12:53 PM #10
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

When working with a seller who is financially and emotionally struggling, it is important to remind him/her that a home does not make a family; a family makes a home. We try to help our client focus on the opportunity to make a fresh start, rather than what is being left behind.

Dec 14, 2016 02:27 PM #11
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Dave Halpern

Louisville Short Sale Expert
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