Short Sale

A short sale may be the best choice if you're facing foreclosure and would consider selling your home.

How it works

With a short sale, your lender lets you sell your home for less than you owe. After the sale, your mortgage (or a portion of it) is considered paid off by the sale amount.

A short sale's benefits include:

  • Paying off your mortgage for less than what you currently owe
  • Listing your home at a competitive price so it can sell more quickly
  • Avoiding foreclosure

Are you eligible?

You may qualify for a short sale if:

  • You owe more on your loan than your home is worth (also known as an "underwater" or "upside down" mortgage).
  • You're experiencing a long-term hardship.
  • You're open to leaving your home.

Next steps

Contact Citi to see if you're eligible for a short sale.
Have the following information ready to help speed up the process:

  • Your mortgage statement and other loan information such as monthly payments and balances of second mortgages, auto or student loans
  • Copies of your 2 most recent pay stubs showing your year-to-date earnings
  • Your most recent quarterly or year-to-date profit/loss statement, if you're self-employed or an independent contractor
  • Your most recent personal checking, savings, money market, mutual funds, stock and bond statements
  • Your most recent tax returns

Need mortgage help?

Share Your Screen With A Phone Representative

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If you need assistance from a Citi representative, contact us via chat or phone