It's a fair worry. If your home sells for less than you owe, what happens to the difference? That gap has a name, deficiency, and dealing with it the right way is a big part of what we do.
In a well-handled short sale, the goal is to get the lender to forgive that gap in writing as a condition of approving the sale. When that happens, you walk away owing nothing. We push hard for this on every file, because a short sale that leaves you still owing money defeats much of the point. Whether a lender can even pursue the difference also depends on your state's laws, which is one reason local experience matters.
There's a second piece people don't expect: taxes. When a lender forgives debt, the IRS can treat that forgiven amount as income, and you may receive a tax form called a 1099-C. That doesn't automatically mean a tax bill, since there are exclusions that often apply, but it's something to plan for rather than be surprised by. We'll flag it early and point you to a qualified tax professional so there are no shocks at tax time.
None of this should scare you off. It just means the details matter, and handling them is exactly why you'd want someone experienced in your corner. We'll walk you through your specific situation in a free consultation.
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