A short sale lets you sell your home for less than you owe, with your lender's approval. We review your situation, explain every option, and handle the negotiation with your bank.
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Porsha Bay has helped homeowners through short sales, liens, and lender negotiations for years. You'll have one direct contact from your first call to closing, and honest advice even when a short sale isn't the right fit.
Your financial details are shared only with your lender, and only after you sign an authorization.
Fees and commissions are typically paid at closing from the sale, as approved by the lender.
If forbearance, a modification, or a regular sale serves you better, we'll tell you.
Depending on your hardship, equity, and lender, one of these paths usually fits. We'll tell you plainly which one makes sense, even if it isn't a short sale.
Both end with you leaving the home. What happens afterward is very different.
| Short sale | Foreclosure | |
|---|---|---|
| Who controls the sale | You list and choose the buyer | Lender sells at auction |
| Wait for a new Fannie Mae mortgage | Typically 4 years (2 with extenuating circumstances) | Typically 7 years |
| Remaining balance | Waiver negotiated in writing before closing | Deficiency may be pursued, depending on state law |
| Move-out timing | Planned around closing, sometimes with relocation money | Set by the lender after the sale |
| Public record | Recorded as a normal sale | Notice of trustee sale is published |
Waiting periods follow current agency guidelines and differ for FHA, VA, and USDA loans. Forgiven mortgage debt can be taxable; talk with a tax professional about your situation.
You make the decisions. We prepare the paperwork, talk to the bank, and keep you updated at every stage.
Tell us your balance, estimated value, and what changed. We'll explain which options you realistically have.
About 20 minutesWe help you gather documents and write a clear hardship letter, then submit everything to your servicer.
First 1–2 weeksThe bank orders a valuation and reviews the offer. We handle the back-and-forth and any second-lien holders.
Usually 30–90 daysOnce the approval letter is in hand and the terms are confirmed in writing, the sale closes and you move forward.
About 30 days after approvalMost delays come from missing paperwork. Tick off what you already have; we'll help with the rest during your consultation.
No. Many lenders will consider a short sale if you can show a hardship and owe more than the home is worth, even if you are still current. Being current can make the process smoother.
It often can, but timing matters. Once a sale date is set, the lender may postpone it while a complete short sale offer is under review. The sooner you reach out, the more options you have.
That depends on what the lender agrees to. We negotiate for a written waiver of any remaining balance and review the approval letter with you before you sign anything.
Your score will drop, mainly because of missed payments leading up to it. In most cases, a short sale lets you qualify for a new mortgage sooner than a foreclosure does.
Usually nothing out of pocket. Real estate commissions and closing costs are typically paid from the sale proceeds with the lender's approval.
Yes, in most cases you live in the home until closing. Some lenders also offer relocation assistance once the sale closes.
Share a few details and a specialist will call you within one business day to walk through your options.
A specialist will call you at within one business day. If you have a sale date coming up, call (602) 510-1641 so we can move faster.
In the meantime, the document checklist above is a good place to start.