{"id":24,"date":"2026-06-17T13:08:25","date_gmt":"2026-06-17T13:08:25","guid":{"rendered":"http:\/\/houston.gregwenzel.com\/wp\/?page_id=24"},"modified":"2026-06-18T01:31:24","modified_gmt":"2026-06-18T01:31:24","slug":"short-sale","status":"publish","type":"page","link":"https:\/\/houston.gregwenzel.com\/wp\/short-sale\/","title":{"rendered":"Short Sale"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"24\" class=\"elementor elementor-24\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d768004 e-flex e-con-boxed e-con e-parent\" data-id=\"d768004\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6aed7f0 elementor-widget elementor-widget-html\" data-id=\"6aed7f0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<!-- Structured data (FAQ \/ HowTo) for SEO & AI answer engines -->\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"FAQPage\",\n  \"mainEntity\": [\n    {\n      \"@type\": \"Question\",\n      \"name\": \"How does a short sale work in Texas?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"With lender approval, you sell your home for less than you owe, and the lender accepts the lower amount to release the lien. You submit a hardship package, list the home, and the lender reviews offers &mdash; a process that typically takes 60&ndash;120 days in Houston.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Will I still owe money after a short sale in Texas?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Possibly. Texas law lets lenders pursue a deficiency judgment for up to 2 years after the sale. That&rsquo;s why it&rsquo;s critical to get a written deficiency waiver in your short-sale approval letter, releasing you from the remaining balance.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"How much does a short sale hurt my credit vs. foreclosure?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"A short sale typically drops your score about 100&ndash;150 points and is reported as &ldquo;settled for less than owed,&rdquo; staying about 7 years. The score hit is similar to foreclosure, but the wording looks better and you can often buy again in 2&ndash;4 years instead of 7.\"\n      }\n    }\n  ]\n}\n  <\/script>\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"HowTo\",\n  \"name\": \"How to complete a short sale in Texas\",\n  \"step\": [\n    {\n      \"@type\": \"HowToStep\",\n      \"position\": 1,\n      \"text\": \"Request a short-sale package and submit a hardship letter.\"\n    },\n    {\n      \"@type\": \"HowToStep\",\n      \"position\": 2,\n      \"text\": \"List the home with an experienced short-sale agent.\"\n    },\n    {\n      \"@type\": \"HowToStep\",\n      \"position\": 3,\n      \"text\": \"Submit a buyer's offer to the lender.\"\n    },\n    {\n      \"@type\": \"HowToStep\",\n      \"position\": 4,\n      \"text\": \"Negotiate a written deficiency waiver.\"\n    },\n    {\n      \"@type\": \"HowToStep\",\n      \"position\": 5,\n      \"text\": \"Close the sale and release the lien.\"\n    },\n    {\n      \"@type\": \"HowToStep\",\n      \"position\": 6,\n      \"text\": \"Verify credit reporting with all three bureaus.\"\n    }\n  ]\n}\n  <\/script>\n\n<section class=\"page-hero\">\n      <div class=\"wrap\">\n        <span class=\"eyebrow\">Exit gracefully<\/span>\n        <h1>Short Sale<\/h1>\n        <p class=\"lead\">Sell your home for less than you owe, with lender approval &mdash; a softer landing than foreclosure.<\/p>\n        <img decoding=\"async\" class=\"page-img\" src=\"http:\/\/houston.gregwenzel.com\/wp\/wp-content\/themes\/challenge-gregw\/assets\/images\/short-sale.png\" alt=\"A for-sale sign in front of a tidy Houston-area home on a sunny day\" \/>\n        <div class=\"best-callout\"><strong>Best for:<\/strong> homeowners who are underwater and cannot keep the home, but want to exit more gracefully than foreclosure.<\/div>\n      <\/div>\n    <\/section>\n\n    <section style=\"padding-top:8px;\">\n      <div class=\"wrap\">\n        <div class=\"content\">\n          <div class=\"tldr\"><h3>Key takeaways<\/h3><ul>\n            <li>A short sale means selling your home for <strong>less than you owe<\/strong>, with the lender&rsquo;s approval to accept the lower amount.<\/li>\n            <li>In Houston, the process typically takes <strong>60&ndash;120 days<\/strong> and needs a willing buyer.<\/li>\n            <li>Credit drop is roughly <strong>100&ndash;150 points<\/strong> &mdash; similar to foreclosure, but the report wording looks better and you can often buy again in <strong>2&ndash;4 years<\/strong> instead of 7.<\/li>\n            <li><strong>Critical in Texas:<\/strong> get a <strong>written deficiency waiver<\/strong> &mdash; lenders have up to 2 years to pursue the remaining balance.<\/li>\n          <\/ul><\/div>\n          <h2>What is a short sale?<\/h2>\n          <p>With your lender&rsquo;s approval, you sell your home to a third-party buyer for less than the outstanding mortgage balance, and the lender accepts the lower amount to release the lien. It is a more graceful exit than foreclosure and usually looks better to future lenders.<\/p>\n          <div class=\"notice\"><strong>Houston note:<\/strong> Texas is a non-judicial foreclosure state, so timelines move fast. Talk to your servicer or a HUD counselor as early as possible \u2014 well before any first-Tuesday auction at the Harris County courthouse.<\/div>\n          <h2>Eligibility requirements<\/h2>\n          <ul>\n            <li>Documented <strong>financial hardship<\/strong>.<\/li>\n            <li>The home is worth <strong>less than the mortgage balance<\/strong> (underwater).<\/li>\n            <li><strong>Lender approval<\/strong> of the sale and the price.<\/li>\n            <li>A willing third-party buyer; active marketing (Fannie Mae often expects roughly 90&ndash;120 days).<\/li>\n          <\/ul>\n          <h2>The step-by-step application process<\/h2>\n          <ol class=\"steps\">\n            <li><strong>Request a short-sale package<\/strong> from your servicer and submit a hardship letter plus financials.<\/li>\n            <li><strong>List the home<\/strong> with a Houston agent experienced in short sales.<\/li>\n            <li><strong>Receive an offer<\/strong> and submit it to the lender for approval.<\/li>\n            <li><strong>Negotiate the deficiency<\/strong> &mdash; ask the lender, in writing, to waive any remaining balance.<\/li>\n            <li><strong>Close the sale<\/strong>; the lender releases the lien.<\/li>\n            <li><strong>Verify credit reporting<\/strong> with all three bureaus so it isn&rsquo;t mislabeled as a &ldquo;foreclosure.&rdquo;<\/li>\n          <\/ol>\n          <h2>Impact on your credit score<\/h2>\n          <p>A short sale typically drops your score about <strong>100&ndash;150 points<\/strong> and is reported as &ldquo;settled for less than owed.&rdquo; It stays on your report for roughly 7 years from your first delinquency. The score hit is similar to foreclosure, but the report wording generally looks better to future lenders &mdash; and staying current on payments before the sale limits the damage.<\/p>\n          <h2>Pros &amp; cons vs. foreclosure<\/h2>\n          <div class=\"table-wrap\"><table>\n            <thead><tr><th><\/th><th>Short Sale<\/th><th>Foreclosure<\/th><\/tr><\/thead>\n            <tbody>\n              <tr><td>Keep your home<\/td><td><span class=\"no\">&#10007; No<\/span><\/td><td><span class=\"no\">&#10007; No<\/span><\/td><\/tr>\n              <tr><td>Credit report wording<\/td><td>&ldquo;Settled&rdquo; &mdash; viewed better<\/td><td>&ldquo;Foreclosure&rdquo;<\/td><\/tr>\n              <tr><td>Re-buy a home<\/td><td>Often 2&ndash;4 years<\/td><td>Up to 7 years<\/td><\/tr>\n              <tr><td>Control of process<\/td><td>Higher<\/td><td>Lower<\/td><\/tr>\n              <tr><td>Deficiency risk (TX)<\/td><td>Possible unless waived<\/td><td>Possible<\/td><\/tr>\n            <\/tbody>\n          <\/table><\/div>\n          <p style=\"margin-top:24px;\"><em>Sources: <a href=\"https:\/\/www.thecreditpeople.com\/credit\/short-sale-vs-deed-in-lieu-negative-mark-impact\" target=\"_blank\" rel=\"noopener\">The Credit People<\/a>, <a href=\"https:\/\/www.absolutepropertieshtx.com\/as-is-home-buyers\/short-sale-houston-homeowner-guide\" target=\"_blank\" rel=\"noopener\">Absolute Properties (Houston)<\/a>, <a href=\"https:\/\/www.nolo.com\/legal-encyclopedia\/deficiency-judgments-after-foreclosure-texas.html\" target=\"_blank\" rel=\"noopener\">Nolo: Texas deficiency judgments<\/a>.<\/em><\/p>\n        <\/div>\n      <\/div>\n    <\/section>\n\n    <section class=\"bg-white\">\n      <div class=\"wrap\">\n        <div class=\"section-head\"><span class=\"eyebrow\">Common questions<\/span><h2>Frequently asked questions<\/h2><\/div>\n        <div class=\"faq\">\n          <details open><summary>How does a short sale work in Texas?<\/summary><div class=\"answer\">With lender approval, you sell your home for less than you owe, and the lender accepts the lower amount to release the lien. You submit a hardship package, list the home, and the lender reviews offers &mdash; a process that typically takes 60&ndash;120 days in Houston.<\/div><\/details>\n          <details><summary>Will I still owe money after a short sale in Texas?<\/summary><div class=\"answer\">Possibly. Texas law lets lenders pursue a deficiency judgment for up to 2 years after the sale. That&rsquo;s why it&rsquo;s critical to get a written deficiency waiver in your short-sale approval letter, releasing you from the remaining balance.<\/div><\/details>\n          <details><summary>How much does a short sale hurt my credit vs. foreclosure?<\/summary><div class=\"answer\">A short sale typically drops your score about 100&ndash;150 points and is reported as &ldquo;settled for less than owed,&rdquo; staying about 7 years. The score hit is similar to foreclosure, but the wording looks better and you can often buy again in 2&ndash;4 years instead of 7.<\/div><\/details>\n        <\/div>\n      <\/div>\n    <\/section>\n\n    <section class=\"bg-teal-soft\">\n      <div class=\"wrap\">\n        <div class=\"section-head\"><span class=\"eyebrow\">Keep exploring<\/span><h2>Related options<\/h2><\/div>\n        <div class=\"related\">\n          <a href=\"\/compare\/\"><span>Compare<\/span><strong>All five options side by side<\/strong><\/a>\n          <a href=\"\/deed-in-lieu\/\"><span>Alternative<\/span><strong>Deed in Lieu<\/strong><\/a>\n          <a href=\"\/loan-modification\/\"><span>Keep your home<\/span><strong>Loan Modification<\/strong><\/a>\n        <\/div>\n      <\/div>\n    <\/section>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ca8779d e-flex e-con-boxed e-con e-parent\" data-id=\"ca8779d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f76dbd1 elementor-widget elementor-widget-html\" data-id=\"f76dbd1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<!-- ===== CONTACT + BOOKING (same on every page) ===== -->\n<section id=\"get-help\" class=\"bg-ink contact-band\">\n  <div class=\"wrap\">\n    <div class=\"section-head section-head--light\">\n      <span class=\"eyebrow\">Talk to a real person<\/span>\n      <h2>Get personal guidance before the auction<\/h2>\n      <p>Every situation is different. Tell me where things stand and I'll personally walk you through the options that actually fit \u2014 free, confidential, and with no obligation. The sooner we talk, the more we can do.<\/p>\n    <\/div>\n\n    <div class=\"contact-grid\">\n      <div class=\"contact-left\">\n        <div class=\"contact-direct\">\n          <p class=\"contact-direct__lead\">Reach out directly \u2014 fastest if your auction is close:<\/p>\n          <div class=\"contact-direct__row\">\n            <a href=\"tel:+18323031930\" class=\"contact-pill\">Call 832.303.1930<\/a>\n            <a href=\"sms:+18323031930\" class=\"contact-pill\">Text me<\/a>\n            <a href=\"mailto:propertyhelp@houstonhomesnow.com\" class=\"contact-pill\">Email<\/a>\n          <\/div>\n        <\/div>\n      <\/div>\n\n      <div class=\"contact-right\">\n        <div class=\"booking-card\">\n          <h3>Book a free consultation<\/h3>\n          <p>Pick a time that works for you. We'll review your situation together and map out your best path \u2014 no cost, no pressure.<\/p>\n          <!-- Calendly inline widget -->\n          <div class=\"calendly-inline-widget\" data-url=\"https:\/\/calendly.com\/mavericksonline\/30min\" style=\"min-width:300px;height:680px;\"><\/div>\n        <\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n<\/section>\n<link href=\"https:\/\/assets.calendly.com\/assets\/external\/widget.css\" rel=\"stylesheet\">\n<script src=\"https:\/\/assets.calendly.com\/assets\/external\/widget.js\" async><\/script>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Exit gracefully Short Sale Sell your home for less than you owe, with lender approval &mdash; a softer landing than foreclosure. Best for: homeowners who are underwater and cannot keep the home, but want to exit more gracefully than foreclosure. Key takeaways A short sale means selling your home for less than you owe, with [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"footnotes":""},"class_list":["post-24","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/houston.gregwenzel.com\/wp\/wp-json\/wp\/v2\/pages\/24","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/houston.gregwenzel.com\/wp\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/houston.gregwenzel.com\/wp\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/houston.gregwenzel.com\/wp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/houston.gregwenzel.com\/wp\/wp-json\/wp\/v2\/comments?post=24"}],"version-history":[{"count":10,"href":"https:\/\/houston.gregwenzel.com\/wp\/wp-json\/wp\/v2\/pages\/24\/revisions"}],"predecessor-version":[{"id":114,"href":"https:\/\/houston.gregwenzel.com\/wp\/wp-json\/wp\/v2\/pages\/24\/revisions\/114"}],"wp:attachment":[{"href":"https:\/\/houston.gregwenzel.com\/wp\/wp-json\/wp\/v2\/media?parent=24"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}