Short Sale Information

Are you considering buying or selling a short sale property. We can provide assistance and answers to your short sale questions:

Potomac Settlement Services

Main Office
7250 Heritage Village Plaza
Suite 202
Gainesville, VA 20155
Tel: (703) 257-1884
Fax: (571) 248-4436

Winchester Location
206 S. Cameron Street
Winchester, VA 22601

Woodbridge Location
4311 Ridgewood Center Drive
Woodbridge, VA 22192

Providing real estate settlement services and title insurance throughout Maryland and Northern Virginia, including Gainesville, Haymarket, Woodbridge, Manassas, Fairfax, as well as Warrenton and Winchester, VA.

Unity Title Short Sale Specialists

What is a Short Sale?

A short sale is a real estate transaction generally used to stop foreclosure, by which homeowners can sell their home for less money than they actually owe on the mortgage(s). This is done with the understanding that the net proceeds from the sale may be less than the total amount due to a loan servicer or lender. This is accomplished by providing proper documentation to the lender(s) that they must consider in the process of reducing the mortgage balance to allow the sale.

If the sale is approved, the mortgage lender(s) will actually take a loss on the mortgage and the borrower can move into more affordable housing.

If a bank approves the discount of a mortgage (short sale), the home can be sold for a price lower than the amount owed without the seller having to come up with funds to cover the shortfall. Thus, the mortgage is satisfied. More and more lenders are developing short sale programs to better serve sellers, in order to avoid foreclosure.

Free Consultation

Kate Polizzi is a Virginia attorney with experience negotiating successful short sales with banks and mortgage lenders. Let Kate work on your behalf to negotiate the short sale of your property.

Contact Kate Polizzi today at (703) 656-2171 for a free consultation.