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 is here to help.
You Have Options. Let's Explore Them Together.
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.
Financial difficulty can feel isolating, but you are not alone. Lisa has helped homeowners across Northeast Georgia understand their options and make informed decisions about their homes and their financial futures. Every conversation is confidential and carries no obligation.
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 transaction that can be a better alternative to foreclosure for both the seller and the lender.
Why consider a short sale?
Short Sales Are Rising
National short-sale activity is climbing, and the trend is expected to continue. Understanding the data can help you make informed decisions.
Short-sale transactions rose 4% from the previous year.
Nearly 10% growth in short sales year-over-year.
Approximately 16% increase in short sales in Q1 2026.
Nearly 30,000 short sales took place in the U.S. in 2025, representing 0.6% of conventional closings and 28% of distressed home sales. The acceleration reflects a broader rise in distressed sales as pandemic-era protections have expired. View the full Realtor.com report
Your Options If You Can't Pay Your Mortgage
Every situation is different. These are the most common paths available to homeowners facing financial difficulty. Understanding each option is the first step toward making the right decision for your family.
Forbearance
Your lender allows you to temporarily pause or reduce your mortgage payments for a set period. This is not forgiveness. The missed payments will need to be repaid later, typically through a lump sum, a repayment plan, or a loan extension. Forbearance is often used for short-term financial hardships such as medical emergencies or temporary job loss.
Deferment
Missed payments are added to the end of your loan term, extending the life of your mortgage. Unlike forbearance, deferment does not require a lump sum payment or a repayment plan. You simply resume your regular payments once the deferment period ends, and the deferred amount is paid off when you sell or refinance the home.
Loan Modification
A permanent change to the terms of your mortgage to make payments more affordable. This can include lowering the interest rate, extending the loan term, or adding missed payments to the principal balance. Loan modifications are typically used when a homeowner has a long-term or permanent change in financial circumstances.
Reinstatement
Paying the total amount of missed payments plus any fees or penalties in a single lump sum to bring the loan current. This is the simplest option, but it requires having the full amount available. Reinstatement is most common when a homeowner resolves a temporary financial setback, such as receiving a new job or a settlement.
Short Sale
Selling the property for less than the remaining mortgage balance with the lender's approval. The lender agrees to accept the sale proceeds as full satisfaction of the debt, or in some cases, agrees to release the lien. A short sale is a voluntary transaction that typically results in less credit damage than a foreclosure and allows you to recover financially sooner.
Deed-in-Lieu of Foreclosure
Voluntarily transferring ownership of the property to the lender to satisfy the mortgage debt. This option avoids the formal foreclosure process and its associated costs. It can be a faster, less expensive alternative to foreclosure, though it still impacts your credit. Lenders typically require the property to be in reasonable condition and free of other liens.
Foreclosure
The legal process by which a lender takes possession of the property after the homeowner fails to make mortgage payments. Foreclosure is the most damaging option for your credit and financial future. It remains on your credit report for seven years and can make it difficult to qualify for a mortgage, rent an apartment, or even secure certain jobs. Where possible, alternatives are worth exploring.
Free Resource: NAR Consumer Guide
The National Association of REALTORS publishes a consumer guide titled "Can't Pay Your Mortgage? You Have Options." This guide provides a clear overview of the options available to homeowners facing financial difficulty, including the steps to take and questions to ask your lender.
Download the NAR Guide
Why Work With a CDPE-Certified Agent
The Certified Distressed Property Expert (CDPE) designation is one of the first certifications Lisa Harris earned when she became licensed in 2007. It requires specialized training in short sales, foreclosure prevention, and loss mitigation. CDPE-certified agents are trained to help homeowners navigate complex financial situations with compassion and expertise.
What sets a CDPE agent apart:
You Are Not Alone.
Let's Talk About Your Options.
Every conversation is confidential and carries no obligation. Lisa Harris brings nearly 20 years of experience and the CDPE designation to every situation. She can help you understand your options and take the next step with confidence.
Schedule a Confidential Consultation
Call, email, or connect with Lisa for a private, no-obligation conversation about your situation.
Lisa Harris, CDPE: Nearly 20 Years Helping Homeowners
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 and a background in engineering and business, Lisa brings analytical precision, skilled negotiation, and deep market knowledge to every situation.
Whether you are facing foreclosure, considering a short sale, or simply want to understand your options, Lisa offers confidential, compassionate guidance. She represents REMAX Center and serves homeowners throughout Northeast Metro Atlanta, including Braselton, Hoschton, Dacula, Flowery Branch, Buford, Jefferson, and Gainesville.
Helpful Resources
Realtor.com Report: Short Sales on the Rise
Read the full report on national short-sale trends, including data on the 4% increase from 2023-2024, nearly 10% from 2024-2025, and 16% year-over-year in Q1 2026.
NAR Consumer Guide: Can't Pay Your Mortgage? You Have Options
A free guide from the National Association of REALTORS covering the options available to homeowners facing financial difficulty, including forbearance, loan modification, short sales, and more.