Will My Lender Accept the Short Sale as Payment in Full for My Loan?
Maybe. Your lender is not required to accept the short sale payment to satisfy your loan amount. The company may decide that you and your property do not qualify for a short sale and deny your request. In that event, you may be forced to explore other options, including trying to sell your house in a traditional sale, requesting a loan modification or a refinance of your home, or declaring for bankruptcy.
Working with a real estate attorney or other professional who has experience filing applications for short sales can increase your chances of being approved by your lender.
