What Lenders Don’t Tell You About Short Sales in New Jersey

But here’s the part most lenders don’t tell you up front:
There’s a lot more to the short sale process than just finding a buyer.

As North Jersey’s AI-Certified Short Sale and Probate Sale Expert, I’ve seen too many homeowners get blindsided by fine print and surprise roadblocks. This blog will show you what lenders don’t say—and how I help protect you from common (and costly) mistakes.

😬 Hidden Detail #1: The Second Lien Surprise
Many homeowners only think about their primary mortgage. But if you ever took out a home equity loan, line of credit, or second mortgage, that second lender needs to approve the short sale too.

And here’s the kicker: second lienholders often hold up the deal to negotiate more money—even if you’re in foreclosure.

My Solution: I negotiate directly with both lienholders to avoid delays and make sure the sale moves forward.

💰 Hidden Detail #2: The Tax Impact You Didn't Expect
Even though a short sale helps you avoid foreclosure, the IRS may see the forgiven mortgage debt as taxable income.

This can lead to a surprise tax bill unless you qualify under exceptions like insolvency or the Mortgage Forgiveness Debt Relief Act.

My Solution: I’ll connect you with a CPA or real estate attorney to review your tax exposure before you agree to the sale—no surprises later.

🧾 Hidden Detail #3: You Still Need a Strong Paper Trail
Lenders don’t always tell sellers that even one missing document—like a hardship letter or bank statement—can delay approval for weeks.

My Solution: I use AI-powered tracking systems to monitor your file and flag any missing documents before they become a problem.

🧠 Bonus Insight: Probate Sales Can Be Short Sales Too
Many inherited homes come with mortgage debt. If the estate can’t cover the balance, you may need to do a probate sale as a short sale.

This makes things more complex—but I’m certified in both. So whether you’re dealing with your own home or selling a family estate, I’ve got you covered.

Short sales are powerful—but only if they’re done right. Don’t let the fine print trip you up.

📞 Call or DM Johnny Rodriguez—North Jersey’s AI-Certified Short Sale and Probate Sale Expert—for a free, no-pressure strategy call today.

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