What if I owe more than my house is worth?

What if I owe more than my house is worth?


When a homeowner is behind on their payments and they owe more than their property is worth a short sale has become the most popular way to sell the property. A short sale is considered the most valuable alternative to foreclosure for homeowners in danger of losing their homes. Homeowners do not have a foreclosure appear on their credit report, are not subject to a public auction, avoid eviction, move substantially on their own terms and walkaway owing nothing. There are other benefits too. If a homeowner is not behind on their payments, they are less likely to be eligible for a short sale.


Speak directly with the Homeowner Advocate assigned to your property. Your Homeowner Advocate can get you access to critical resources and assistance including monetary and other options specific to your property. The program is privately funded and provided at no cost to participating New York Homeowners.

This is for information purposes only. Subject to change without notice. It is not to be construed or relied upon as legal or accounting advice. Please click here for our complete disclaimer, https://rebuildny.com/disclaimer/

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