Can You Do a Short Sale in NJ Without Missing a Mortgage Payment?

If you’ve been thinking about a short sale in New Jersey but haven’t missed a mortgage payment, you might be wondering if it’s even possible. The good news? In some cases, yes—you can do a short sale even if you’re current on your loan.

Many homeowners search “short sale homes near me?” thinking they have to be in foreclosure to qualify. But lenders are more flexible than most people realize—especially when you can show a legitimate financial hardship or change in circumstances.

Let’s break it down simply.

🏡 What Is a Short Sale?
A short sale happens when a homeowner sells their property for less than what they owe on the mortgage, and the lender agrees to take the lower payoff instead of foreclosing. It helps avoid further financial damage—for both the bank and the homeowner.

✅ Yes, You Can Be Current and Still Qualify
Most people think you have to be 90+ days late to qualify. While that’s often the case, many lenders now review hardship-based short sales for homeowners who are still current but struggling.

Some acceptable reasons include:

Job relocation

Divorce or separation

Medical expenses

Loss of household income

Inability to afford future payments

You’ll need to prove that staying current isn’t sustainable long term. If the bank sees trouble ahead, they may approve your short sale before you fall behind.

📄 What the Lender Will Want
Even if you're up to date, your lender will ask for a full short sale package, which includes:

A hardship letter

Proof of income and expenses

Two months of bank statements

Tax returns

A listing agreement and offer from a buyer

Your home will need to be listed at fair market value, and once a buyer submits an offer, the lender will review everything before approving the sale.

💡 Why Act Early?
Doing a short sale before you fall behind can actually protect your credit score and prevent collection calls or foreclosure threats. Plus, it gives you more time to plan your next move—without the stress of default.

🧠 Final Thoughts
If you’re underwater on your mortgage and worried about the future, don’t wait for things to get worse. A short sale can be a smart way out—even if you’ve never missed a payment.

📲 Need Help With a Short Sale in North Jersey?
I’m Johnny Rodriguez, North Jersey’s first AI-Certified Realtor. I help homeowners explore all options, including selling short before foreclosure begins.

👉 Start with a free home value check at JohnnyR.FreeHomeValues.net
📍 Serving Clifton, Paterson, Passaic County & beyond.

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