Concerned about your mortgage payments?
Understand your selling options.

Being behind does not automatically prevent a sale. We need to review the property’s likely value, payoff amounts, liens and any foreclosure deadlines. A sale must be able to close under the applicable requirements. Contact your servicer about hardship options, and do not assume a listing or offer postpones an auction.

You may be able to sell through a regular sale rather than a short sale. Compare a realistic sale price with the full mortgage payoff, other liens, selling costs and moving expenses. Equity on paper is not the same as cash available after closing. We can organize that comparison before you decide.

A short sale may be an option if the necessary lender or servicer approvals can be obtained. It involves selling for less than the mortgage debt and requires more than accepting a buyer’s offer. Approval, timing and any remaining debt must be addressed in writing; a sale does not automatically cancel the unpaid balance. Review legal and tax consequences with qualified advisers.

An initial conversation does not require a listing commitment. If you choose representation, brokerage compensation and services are agreed in writing and compensation is negotiable. Closing costs, liens and any required seller contribution depend on your circumstances and, for a short sale, the approval terms. We will review the proposed costs and estimated net proceeds before you commit; we cannot promise a lender will cover everything.

Do not assume it does. Sending this form, listing your property, receiving an offer or requesting short-sale approval does not itself stop a foreclosure sale. Ask your servicer to confirm the status and any postponement in writing. If an auction is scheduled, contact a Washington housing counselor or attorney promptly instead of waiting for a website response.