Utah short sale help
Owe more than your home will sell for?
Watch these 7 short videos before you decide anything.
You have options.
Two minutes each. Plain answers about short sales, from a Utah broker who has handled short sales for over 20 years.
1. Watch the videos below. 2. Read the answers. 3. When you're ready, call, text or book a free consultation at the bottom.
If your payment went up, your job is moving you, or life just changed, and the house won't sell for what you owe, you are not the only one in Utah dealing with it right now.
The biggest mistake is doing nothing. Homeowners who wait usually lose options. Homeowners who get informed early usually have more of them.
Watch these in order. They're private, there's no form, and nobody will call you unless you call first.
Video 1
What a short sale actually is
You sell your home for less than you owe, and your lender agrees to that amount before it closes. Here's how it works and how it's different from a foreclosure.
Video 2
Why some lenders want to do a short sale
A foreclosure costs a bank attorney fees, months of payments it never collects, and a vacant house to fix and sell. That's why many lenders have a short sale department and will look at a fair offer.
Video coming soon
Video 3
Short sale or foreclosure: your credit and buying again
A short sale usually isn't reported as a foreclosure, and on a conventional loan the standard wait to buy again is four years instead of seven. Your credit still takes a hit, and here's what that looks like.
Video coming soon
Video 4
If you hold a security clearance
If your job depends on a clearance, how you handle a debt can matter as much as the debt itself. Here's what to know before you decide, and the one person to talk to first.
Video coming soon
Video 5
Help with moving costs
Some lenders pay relocation assistance to help you move when a short sale closes. It depends on who owns your loan and what they approve, and it isn't guaranteed.
Video coming soon
Video 6
Working with your lender before a foreclosure
A short sale is a sale your lender signs off on before a foreclosure, not a fight with them. Here's what happens from the first phone call to closing day.
Video coming soon
Video 7
Why you must use a real estate agent
Your lender will require you have a qualified real estate agent list the property, and require it to be on the multiple listing service.
Video coming soon
Ready to talk now? Jump to the bottom of the page.
Who this is for
You may be in this situation if:
✓ Your mortgage payment has increased
✓ Your 2-1 buydown is ending
✓ You bought with a low down payment and have little or no equity
✓ You need to move but can’t sell traditionally
✓ You’re dealing with job loss, health issues, or financial pressure
✓ You’re going through relocation, divorce, or major life changes
What is a short sale
A short sale is when your lender agrees to accept less than what is owed so the home can be sold.
The goal:
• Avoid foreclosure
• Reduce or eliminate what you owe after the sale
• Give you more control over the outcome
Why not foreclosure
Foreclosure often leads to:
• Greater long-term credit damage
• Less control over timing
• Possible legal or financial exposure
• A longer recovery timeline
A short sale is often the better path.
Timing matters
This is where many people lose options.
The earlier you look at your situation, the more flexibility you have.
Waiting too long can limit what’s possible, or take options off the table entirely.
How the process works
Why experience matters
Short sales are not simple transactions. They involve negotiating with lenders, managing strict timelines, handling multiple liens, and avoiding mistakes that can lead to foreclosure.
I’ve been handling short sales for over 20 years, including complex situations with multiple lenders, second liens, and creditor negotiations.
This is not something you want handled incorrectly. My role is to guide you through it the right way the first time.
Common questions
Will a short sale hurt my credit?
Yes. It shows as a loan settled for less than the balance, and late payments before it still show. Many future lenders look at that more favorably than a foreclosure, and it is not reported as one.
How soon could I buy again?
On a conventional loan, the standard wait after a short sale is four years, versus seven after a foreclosure, and it can be two years if your hardship was outside your control. FHA and VA have their own rules. A lender can tell you exactly where you’d stand.
Will I still owe the difference?
In many cases that amount can be negotiated or waived as part of the approval. Read your approval letter carefully and ask an attorney if anything in it is unclear. Forgiven debt can be taxable, so ask your CPA as well.
Can a short sale stop my foreclosure?
I can’t promise that, and nobody else can either. What I can tell you is that the earlier we start, the more time there is to put an offer in front of your lender.
Do I have to be behind on payments?
Not always. A job transfer, a divorce, a death in the family or a payment that jumped can all be hardships a lender will consider. Your lender decides what qualifies.
What does this cost me?
Nothing up front. I’m paid at closing, from the sale, as part of what your lender approves.
You’re not stuck
It may feel that way right now, but you’re not out of options. The key is understanding what those options are before time works against you.
Let’s talk
If you want clarity on your situation, reach out.
No pressure. No judgment. Just real answers.
Book a Free ConsultationCall 801-698-2526Text David
Book a free consultation to see if you qualify. You’ll get a clear plan, straight answers, and a path forward.
David Supinger, Broker/Owner, Home Click Real Estate · david@davidsupinger.com
David Supinger, Principal Broker, Home Click Real Estate, Salt Lake City, Utah. 801-698-2526. Not legal, tax or credit advice. Every lender makes its own decision.
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