Facing a Short Sale or Foreclosure

If you’re facing a short sale or foreclosure, you’re not alone. Since the recession, the federal government has created programs to assist you and regulations to ensure that your rights are protected.


Short Sales

If you need to sell your home and owe more than it’s worth, the first step is to contact your lender(s) to request an “application for short sale”.  Most lenders have detailed information on their websites which allow you to complete the application form on-line.


The lender will require a market analysis on your home, which we’ll prepare free.


Working together, we will successfully navigate through the short sale process with your lender and get your home sold so you can move on and put this challenging situation behind you.



If you are behind on your mortgage payments, the most important thing to do is contact your lender immediately.  Through federal programs, they have options to help you avoid foreclosure.


  • Refinancing
  • Modifying your loan
  • Deferred payments
  • Deed in lieu of foreclosure
  • Short sale


If you are unable to prevent foreclosure, remember, you still have several ownership rights. For six months after the foreclosure sale you have the right to occupy your home, sell your home or pay off the balance due and redeem your home.


Free Assistance

To learn about the most current government programs available to assist you, contact the agencies listed below.

  • The Dept of Housing and Urban Development                    www.hud.gov
  • Minnesota Housing Finance Agency                                   www.mhfa.gov
  • HOPE NOW Alliance                                                           www.hopenow.com
  • Minnesota Home Ownership Center                                   www.hocmn.org


Competitive Edge Real Estate is here to help!

Contact us today so we can put our expertise to work for you and give you the best real estate service you’ve ever received, regardless of the circumstances.