If you can no longer afford your home, consumer credit counselors generally suggest that you contact the lender and request enough time to list the house with a real estate agent and sell it. If you are not too far behind on your payments, the lender may agree. If not, and the lender chooses to foreclose, there may be enough time to sell the house at a reasonable price before foreclosure. Otherwise, the lender may agree to a "short sale,â€� which means that the amount you receive for your home is less than you owe the lender. In this case, the lender agrees to accept the proceeds of the sale and forego the remainder of the loan balance. 

CENTURY 21 SEXTON & DONOHUE is pleased to present you with interesting and informative real estate topics. Should you require a short sale or be interested in purchasing a home in that category, we are here to help. We have a successful history of assisting sellers and buyers in your community. To learn more about how we can assist you, reach us today at (781) 665-6660. We will arrange an initial meeting. The office is conveniently located at 29 Essex St., just across the street from Shaw’s. We are "A Team Effort�. Learn how we earned our superior reputation!

HINT: By accepting a short sale, a lender can avoid a lengthy and costly foreclosure and the homeowner is able to pay off the loan for less than he or she owes.