Can I short sale if I have a renter?

The short answer is, you have to honor the renters lease. 

We have helped many investor types who have renters in there property that are severely upside down, short sale there place.

What we like to do is time it so that the short sale is almost done by the time the lease is up.  To be on the safe side, we like to start the short sale 3 months before the end of the lease.  So if your lease was up September 1.  We would start the short sale with the sellers missed payment June 1.  Then when they are technically late June 15th, we would list the property and try to secure a buyer quickly.  This process takes cooperation from your renters.  We work with them so this is not a terrible inconvenience.

So these 3 months that the seller is not paying there mortgage, they are collecting rent.  This rent should cover in most cases the cash contribution that the bank is going to require at closing. Most of our sellers are having to bring anywhere from 0-$7,000 to closing.  Yes we have had clients bring nothing and actually we have had a few actually get paid a couple thousand to do the short sale! Our typical short sales are getting done in 90 days.  That is 90 days from contract ratification with the buyer.

If you would like to chat about your situation and see what your options are email me at

AHMSI - American Home Mortgage Short Sale Approval Letter Skyline Plaza HAFA Real Estate Specialist Agent Virginia & Maryland

AHMSI - American Home Mortgage Short Sale Approval Letter Real Estate Specialist Agent Virginia & Maryland - HAFA Short Sale

3701 South George Mason Drive Falls Church Virginia 22041 - 2bd/2ba  - $220,000
We continue to be 100% in completing short sales for our sellers. Its important you hire a short sale specialist with experience with your bank.
We just got this short sale approved. The seller was forgiven over 200k!!

To find out when your home will be an asset again visit:

For Short Sale FAQ's visit:

Quick Facts

Hardship: Upside Down on the mortgage, lot of debt

List Date: 02/21/2012
Approval Date: 5/11/2012
Close Date: 5/30/2012

Result: Full deficiency waiver for our seller.

AHMSI American Home Mortgage, this short sale was rather easy.  It was a HAFA short sale and as you can see it only took 80 days to get the approval letter. Through the HAFA program they forgive the entire deficiency which was over 200k for our seller and they actually paid my seller $3,000 to do the short sale!  To find out if you are eligible for a HAFA short sale email me

If you would like for us to refer you to a tax professional with short sale experience, conact us at

If you have any questions concerning AHMSI American Home Mortgage HAFA Short Sales Contact Us. We have a proven record with AHMSI American Home Mortgage (Preforeclosure) Short Sales. We can help you with AHMSI American Home Mortgage HAFA Short Sale in Virginia & Maryland.