RightNow Short Sales

Residential foreclosure activity has increased by 17% over the past year, indicating a growing level of distress among mortgage borrowers.

U.S. Foreclosure Rates by State – September 2025 Explore September 2025 foreclosure rates across all 50 U.S. states and their top counties leading in foreclosure activity.

If you are facing foreclosure, it can be a scary and overwhelming experience. Don't lose hope, there are steps you can take to avoid losing your home. First, reach out to your lender and explain your situation. They may be willing to work out a payment plan or modify your loan. You can also seek assistance from who can provide guidance and resources.

Short Sale vs. Foreclosure

When you are facing financial hardship and unable to keep up with your mortgage payments, it can be overwhelming and stressful.

A short sale is when you sell your home for less than what you owe on your mortgage. The lender agrees to accept the sale price as full payment and forgives the remaining debt. This can have less of an impact on your credit than a foreclosure, as long as you stay current on your mortgage payments during the short sale process.

On the other hand, foreclosure is when the lender takes possession of your home and sells it to recoup their losses. This can have a significant negative impact on your credit score and may make it difficult to obtain credit in the future.

It's important to note that walking away from your home is not a solution. It can lead to a foreclosure, which can have serious consequences. It's better to explore all your options, including a short sale, before making any decisions. If you're facing financial hardship, speak with a real estate professional specializing in short sales to help you make the best decision for your situation. Short Sales rightnowshortsales