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What is a Short Sale?

Lenders may allow the homeowner to sell the house for less than the debt - hence the name short sale. The lender gets the purchase price and a deficiency judgment against the debtor. The debtor is released from the mortgage without having the black mark of a foreclosure on his or her credit report. The lender may also forgive the deficiency, but if they do it is typically considered taxable income for the homeowner.


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Patrick Neale & Associates serves clients throughout Southwest Florida and has office locations in Naples and Marco Island.

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© 2019 Patrick Neale & Associates | Disclaimer
5470 Bryson Court, Suite 103, Naples, FL 34109
| Phone: 239-642-1485
(By appointment) 950 North Collier Blvd., 4th Floor, Marco Island, FL 34145
| Phone: 239-642-1485
Mailing Address: P. O. Box 9440, Naples, FL 34101-9440
| Phone: 239-642-1485

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© 2015 Patrick Neale & Associates | Disclaimer
5470 Bryson Court, Suite 103, Naples, FL 34109
950 North Collier Blvd., 4th Floor, Marco Island, FL 34145 (hours by appointment)
Mailing Address: P. O. Box 9440, Naples, FL 34101
Phone: 239-642-1485 | Fax: 239-642-1487
Practice Areas | About Us | Important Links & Forms | Blog | Consultation Request | Contact Us

Law Firm Website Design by
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A NACBA Member Website

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