Short Sales & Foreclosures in Calvert County, Maryland
If you’re a homeowner in Maryland facing financial hardship, you may be considering a short sale as an alternative to foreclosure. A short sale lets you sell your home for less than what you owe on the mortgage, with the lender’s approval. This can relieve overwhelming debt and help protect your credit from the severe impact of foreclosure.
As a Calvert County Maryland Realtor with decades of experience, I’ve successfully closed many short sales, guiding homeowners any where in Maryland through the process while protecting their best interests. I work with one of the best Short Sale Negotiators in Maryland. As a Master Certified Negotiator, I know how to work with Short Sale Negotiators, buyers, and attorneys to keep deals moving smoothly.
If you’re facing foreclosure, act early. The earlier you move, the more options you have. Whether you’re just missing payments, already in default, or you’ve received a foreclosure notice, I can help you understand your options, including whether a short sale is the right path and get you intouch with the right people to help.
Homeowners’ Top Questions About Short Sales & Foreclosures
1) What is a short sale?
A short sale is when your lender agrees to let you sell your home for less than the total amount owed on your mortgage. It helps prevent foreclosure and may reduce the long-term impact on your credit.
2) How is a short sale different from foreclosure?
In a foreclosure, the bank takes back your property and sells it at auction. In a short sale, you sell the property—, with the bank’s approval, before foreclosure, giving you more control and typically less credit damage.
3) Can you stop a foreclosure?
The only time it is too late to stop a foreclosure is when the property has already been sold at auction. Up until that point, options may include a short sale, loan modification, reinstatement, or repayment plan.
4) Do I need to be behind on payments to qualify for a short sale?
Not always. Some lenders will approve a short sale if you can show financial hardship, even if you are current on payments.
5) How long does a short sale take in Maryland?
Most short sales take 60–120 days depending on the lender, the buyer, and how quickly documents are submitted. An experienced Realtor® can help speed things up.
6) Will I owe money after a short sale?
It depends on your lender. Some banks forgive the remaining debt (“deficiency balance”), while others may require a repayment agreement. Negotiation is key.
7) How will a short sale affect my credit?
A short sale will impact your credit, but usually less than a foreclosure. Many homeowners can buy again in as little as two to three years after a short sale.
8) What documents will my lender need?
Typically: a hardship letter, proof of income, bank statements, tax returns, a financial worksheet, and a listing agreement with your Realtor®. Each lender has specific requirements.
9) Why should I work with a Realtor® who has short sale experience?
Short sales involve intense negotiations with banks and strict timelines. An experienced Calvert County Realtor® has the track record, contacts, and strategy to get approvals faster and protect your financial future.
10) Is a short sale better than foreclosure?
In most cases, yes. A short sale allows you to walk away with dignity, minimize credit damage, and recover financially sooner than foreclosure.
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