You are here:

Collections Law/Foreclosure or short sale


I purchased my home in 2004 in fl, I've been paying faithfully and on time for 8 years. I wish to relocate out of the state to be with family and purchase a home up north. I don't want to ruin my credit however the houses value is approximately half of what is owed on the home. The loan is a FHA loan I really don't want to let the home go into foreclosure what are the benefits of a short sale? Are there any other options besides short sale and foreclosure? I don't want to rent out the home.

Hey Jessica,

I wish that I could tell you some good news but that is not the case. FHA requires that you be late on your payments in order to do a short sale. If you don't want to rent it then that is your only option other then bringing that amount that you need to pay off the loan to the table at closing.

If you do a short sale, you will be able to buy a home sooner then with a foreclosure with conventional financing. You can buy again after 3 years with an FHA loan. If you want I can line you up with a short sale agent in your area that is top notch. Unfortunately you don't have a lot of options if you don't want to rent it, other then short sale or foreclose. Send me a direct email to with your address and contact info and I'll get you lined up with the right agent.

Hope that that helps.


Collections Law

All Answers

Answers by Expert:

Ask Experts


Brian Pitcher


I can answer all questions related to Residential Real Estate. In particular I am an expert in the loss mitigation side. I meet with multiple homeowner on a weekly basis and guide them through the issues of being upside down on their mortgage and what they can do to better it. I can answer questions on Loan Modifications, Short Sale, Foreclosure, Strategic Default, Deed in Lieu. I can also answer questions on the buyer/investor side of things in regards to homeownership or home flipping. I can also answer questions regarding the 1099C or cancellation of debt that homeowners get from a short sale or a foreclosure.


I run a team of agents called the Pitcher Group, out of Salt Lake City. We specialize in Short Sales and helping sellers get out of tough situations. We have closed over 100 short sales in the past 3 years with our team. I also am an owner of a Short Sale Negotiation company that helps process short sale transactions for Real Estate Agents all across the country. I understand the investment side of Real Estate as I have bought and sold many rental type homes over the years. I also rehabilitate homes and flip them. We usually have 1 to 3 properties going at any given time. Our completion time from bought to sold is usually less then 4 months.

I am a member of the national Association of Realtors on the national level and the Salt Lake board of Realtors on the local level. I am a member of the Short Sale Specialist Network as well as multiple short sale mastermind groups locally and nationwide.

The Short Sale Specialist Network The Truth about Short Sales, Loan Modifications and Foreclosures (an ebook that I wrote)

Bachelors Degree from the University of Utah in Spanish with an emphasis in Economics. Specialized and on going study of loss mitigation tactics revolved around the banking industry and real estate including FDIC.

Awards and Honors
Bronze Home sales award in 2008 for Keller Williams Gold Home sales award in 2009 For Keller Williams Triple Gold Home sales award in 2010 For Keller Williams Triple Gold home sales award in 2011 For Keller Williams Top Sales agent individual award in 2010 For Keller Williams I have been asked to speak and teach other realtors how to handle short sales for Keller Williams International and also at my local board of Realtors.

Past/Present Clients
I have over 100 successfully closed short sale transactions.

©2017 All rights reserved.

[an error occurred while processing this directive]