What Is a Deficiency in a Short Sale?

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Today I'll be answering more questions about short sales. I'll be answering this question in particular:

What will happen to the difference of what I owe on my property and what the bank will receive once my property is sold?

This difference is known as the deficiency in a short sale. Almost 99% of the time, this difference is completely forgiven. It's hard to believe, but banks will just let that money go.

However, if this is not the case, then you'll need to speak with a qualified mortgage professional and possibly an attorney. If you find yourself in this unfortunate circumstance, then please contact me and I would be happy to refer you to some of my preferred vendors that could offer you assistance.

As always, if you're in need of a good real estate professional in Lane County, please consider me your #1 option!

Why work with Turning Point Realty?

Turning Point Realty Group was founded in 2009. What started out in Tyler Head's living room has blossomed in to a group of professionals who consistently rank in the top 1% of Brokers in Lane County.

We have a wide variety of talents to round out our services, including an in-house full-time Short Sale negotiator and an in-house graphic designer.

Tyler is a life-long resident of Lane County. He graduated from the University of Oregon with a degree in Psychology.

He knew that sales was his calling as far back as the days he was going door-to-door with candy bars for a school fundraiser. When he began his career in real estate, Tyler was honored with the Rookie of the Year award and was routinely counted amongst the Top 10 Brokers he worked with, before branching out on his own.

In his free time you can find him officiating local high school basketball games, reeling in Steelhead, or enjoying some sushi.

Tyler Head
Turning Point Realty Group
112 East 13th Avenue Eugene, OR 97401
Phone: 541-767-SOLD
Cell: (541) 520-2132
Tyler@TPRGHomes.com

What our happy clients have to say

"Tyler and Apryl did a wonderful job helping my wife and I move into a beautiful home, and sell our other home which we purchased through Tyler. Tyler is definitely on top of the real estate game and is an easy recommendation for me to make if anyone I know is looking to buy or sell a home. I am definitely a raving fan!"

-P.W., Coos Bay

"Who knew, certainly not me, that the market would turn and my home 'Nest Egg' would become a major burden? I contacted Turning Point and they were so knowledgeable and considerate. They knew how to market my house and showings started happening right away. They went all out for me and they really held my hand through this whole ordeal. My house has been sold. The mortgage company is satisfied with the Short Sale agreement. Now I only have one regret: I hope that I will not lose my wonderful, caring friends at Turning Point!"

-J.M., Springfield

Read Even More Testimonials

Lane County Real Estate Video Blog with Tyler Head

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What Is a Deficiency in a Short Sale?