Short Sales and Foreclosures:
Expert Guidance When You Need It Most
If you are facing foreclosure, behind on your mortgage, or owe more than your home is worth, you have options. Lisa Harris brings nearly two decades of experience and the CDPE designation to help you navigate the path forward.
If you are facing foreclosure, behind on your mortgage, or owe more than your home is worth, you have options. Lisa Harris holds the Certified Distressed Property Expert (CDPE) designation, one of the first certifications she earned when she became licensed in 2007. With nearly two decades of experience, Lisa has the specialized training to help homeowners navigate short sales and avoid foreclosure.
What is a short sale?
A short sale occurs when a homeowner sells their property for less than the remaining mortgage balance, with the lender's approval. It is a voluntary agreement that can help you avoid the more severe consequences of foreclosure.
Short sales can be a better alternative to foreclosure for both the seller and the lender. According to Realtor.com, properties are fetching roughly 9% more of their estimated value as a short sale than as a foreclosure. Homeowners who complete a short sale typically recover faster financially and face a shorter waiting period before they can qualify for a mortgage again.
Short Sales Are Rising
Nationally, short-sale transactions have been trending upward:
- Up 4% from 2023 to 2024
- Nearly 10% from 2024 to 2025
- 16% year-over-year in Q1 2026
As economic pressures continue to affect homeowners, understanding your options before the situation becomes critical is more important than ever.
Your options if you can't pay your mortgage.
Every situation is different. Here is a summary of the most common options available to homeowners facing financial difficulty. The right choice depends on your specific circumstances, and a confidential conversation with a CDPE-certified agent can help you determine the best path forward.
Forbearance
A temporary pause or reduction in your mortgage payments, typically granted by your lender when you are experiencing a short-term financial hardship. Payments are not forgiven, but you get time to recover before resuming your regular payment schedule.
Deferment
Missed payments are moved to the end of your loan term rather than due all at once. When you resume paying, your monthly payment stays the same, and the deferred amount is repaid when you sell, refinance, or the loan matures.
Loan Modification
A permanent change to one or more terms of your mortgage, such as reducing the interest rate, extending the loan term, or converting an adjustable rate to a fixed rate. This can make your monthly payments more affordable long term.
Reinstatement
A lump-sum payment of all past-due amounts, including missed payments, late fees, and any other charges. This brings the loan current and stops the foreclosure process. Typically the best option if you have a sudden windfall or can access funds.
Short Sale
Selling your home for less than the amount you owe on the mortgage, with the lender's approval. The lender agrees to accept the sale proceeds as full satisfaction of the debt, often with the remaining balance forgiven or reduced. Short sales typically result in a faster financial recovery than foreclosure.
Deed-in-Lieu of Foreclosure
Voluntarily transferring the deed to your property to the lender in exchange for being released from the mortgage obligation. This avoids the public foreclosure process and can be less damaging to your credit than a foreclosure.
Foreclosure
A legal process in which the lender takes possession of your property because you have failed to make mortgage payments. Foreclosure is the most damaging option for your credit and typically results in the lowest financial recovery, but understanding it is essential so you can work to avoid it.
For a detailed overview of these options, the National Association of REALTORS publishes a consumer guide called "Can't Pay Your Mortgage? You Have Options" that walks through each path in depth. Read the NAR consumer guide for more information.
Why work with a CDPE-certified agent?
The Certified Distressed Property Expert (CDPE) designation is a specialized certification that trains real estate professionals to help homeowners facing financial hardship. Lisa Harris earned her CDPE designation in 2007, one of the first certifications she obtained when she began her real estate career.
Specialized Short Sale Training
CDPE certification covers the full short sale process, from negotiating with lenders to navigating complex paperwork and timelines. Lisa has been applying this training since 2007.
Expert Negotiation With Lenders
Short sales require negotiating with bank loss mitigation departments. Lisa's nearly two decades of experience mean she knows how to present your case effectively and work toward a favorable outcome.
Understanding All Your Options
A CDPE-certified agent doesn't just push short sales. Lisa helps you understand every option available, from forbearance and loan modification to deed-in-lieu and short sale, so you can make an informed decision.
Compassionate, Confidential Guidance
Financial difficulty is stressful. Lisa provides a confidential, judgment-free consultation to help you understand where you stand and what steps to take next. You are not alone in this process.
CDPE Since 2007
Certified Distressed Property Expert
"I earned my CDPE designation in 2007, at the very start of my career. I knew then that the ability to help homeowners through difficult financial situations was a skill every real estate professional should have. Nearly 20 years later, that training has helped countless families in Northeast Georgia navigate short sales, avoid foreclosure, and rebuild their financial futures."
Lisa Harris, MBA, CLHMS, CDPE, CRS, RENE, SRES
Luxury Real Estate Specialist, REMAX Center
The numbers matter.
Short sales result in 9% more value than foreclosure, according to Realtor.com.
Homeowners who complete a short sale recover faster financially and face a shorter credit impact.
You don't have to face this alone.
Whether you are considering a short sale or want to explore all your options, a confidential, no-obligation conversation with Lisa can help you understand your path forward. Every situation is different, and every conversation is private.
Ready to Explore
Château Élan?
Lisa Harris has nearly two decades of experience in Château Élan and Northeast Metro Atlanta luxury real estate. Whether you're buying your dream home or preparing to sell, she'll guide you with the expertise only a community insider can offer.
Licensed Georgia Real Estate Agent · CLHMS GUILD™ · REMAX Center