SoCal · Owe more than it’s worth?
Short sales — a structured exit when the math doesn’t work
A short sale means selling for less than you owe, with your lender’s approval. It isn’t automatic and it isn’t right for everyone — but for some homeowners it’s a cleaner path than foreclosure. Cathy Luna helps you understand the process.
What is a short sale?
You market and negotiate a sale price below the mortgage balance. The lender must agree to accept less than full payoff (and may have conditions). Until they approve, nothing is final.
When people look at short sales
- Behind on payments or heading that way
- Home value dropped below what you owe
- Need to relocate and can’t bring cash to closing
- Want to explore options before foreclosure timelines tighten
Short sale vs foreclosure (high level)
Foreclosure is the lender taking the property through their process. A short sale is you selling with lender consent. Credit, timeline, and deficiency rules vary — get advice from your lender and, when needed, a housing counselor or attorney. We don’t promise credit outcomes.
How Cathy helps
As a Realtor and Loan Officer, Cathy can help you list/strategize the sale side, gather what buyers and lenders typically need, and talk through “what’s next” for housing after. Frank can weigh in if condition or title makes a retail sale hard.
Typical short-sale checkpoints
1. Honesty on numbers
Value, balance, liens, HOA, repairs — fuzzy numbers waste months.
2. Buyer who can wait
Lender timelines are slow. Retail “need keys in 30 days” buyers often bail.
3. Paperwork stamina
Hardship packages and lender requests are real. We help you stay organized.
Thinking a short sale might be your path?
Start with a conversation — before the timeline chooses for you.