Short Sale vs. Foreclosure
If you owe more on your home than it’s worth or are facing foreclosure in Florida, a short sale may be one of the best options available. A Florida short sale allows homeowners to sell their property for less than the mortgage balance with lender approval, helping avoid foreclosure and reduce long-term financial damage. Many homeowners are surprised to learn that short sales are often used to avoid foreclosure, reduce credit damage, and potentially negotiate debt forgiveness with lenders.
How do short sales compare to foreclosure for home owners? Find out the differences!
Short Sale:
Foreclosure:
In nearly every instance, a short sale offers numerous benefits over losing your home to foreclosure.
FREE SHORT SALE SURVIVAL GUIDE!
A STEP BY STEP MANUAL FOR GETTING THROUGH THE SHORT SALE PROCESS!
What do you have to gain by short selling? The top 5 benefits of a short sale over a foreclosure:
1. Avoid the stress of falling behind and losing your home to foreclosure.
A foreclosure can be mentally and emotionally draining and publicly humiliating. A short sale will help you stop FL foreclosure, and move on with your life quickly instead of having your home foreclose and face eviction from you lender.
2. Eliminate or minimize the chances your lender will pursue you for a deficiency judgment.
If you foreclose in Florida, your debt doesn't disappear, especially if you owed more than the home eventually sold for! Florida state laws allow lenders to pursue you for this loss, but you do have the opportunity to settle the debt in a short sale.
3. Minimize credit repercussions.
A short sale is less derogatory than a foreclosure and credit recovery is much faster. You can also qualify for a new mortgage 2-3 years after a short sale, but that will take 4-7 after a foreclosure.
4.Control over the sale of your home.
You will be able to sell your home on the open market and make all the decisions regarding the terms of the sale of your home, as well as how the remaining mortgage debt gets settled.
5.A short sale will likely cost you nothing!
When involved in a short sale, almost always the lender allows all customary closing costs to come out of the proceeds of the home sale including realtor fees, conveyance taxes, back taxes and attorneys fees. In some cases you may even qualify for relocation assistance!
Will you qualify for a short sale? Find out now!
LOVED LOVED LOVED working with them! They were so efficient, so attentive, they got back to me instantly with every question I had, (And trust me I had a lot!) they were so informative, and they walked me through every step. I highly recommend Minna and her team!
Michelle
Last Updated on March 23, 2026 by Minna Reid
