A conversation about your home, your plans, and the questions that matter.
Dallas–Fort Worth · Private homeowner review
Need to move. Owe more than your home is worth?
You can make the mortgage payment. But bringing thousands to closing is another story. Explore your selling options with a private, property-specific review.
Architectural illustration · not a property listing
A free first review. Submitting a request does not create a listing agreement.
Consider a conventional sale, keeping or renting, and a lender-approved short sale.
David McElroy · Texas Real Estate Broker · License #0489516.
Current on payments? Your loan and circumstances still matter. Do not stop making mortgage payments to try to qualify for a short sale.
The property and the numbers matter
Your life may need to move before the market does.
A job transfer, military move, divorce, or family change can make staying difficult—even when your income is steady.
A short sale means a lender agrees to accept less than the full amount owed from a sale. It requires approval, and the terms matter. It is one option to evaluate alongside keeping, renting, or selling the home another way.
Understand the numbers
Review your home’s likely market value, estimated loan payoffs, and selling costs to see whether there is a closing gap.
Know what to ask
Identify the lender questions that matter: approval, any cash contribution, remaining debt, and time to complete a sale.
Plan your next move
Discuss the real estate steps and the questions to take to your servicer, Texas attorney, and tax professional.
A homeowner’s perspective
One home. Different paths forward.
Start with your circumstances. You do not need to know your loan program or have every answer before requesting a review.
A new job. A new location.
A transfer or military move may put a deadline on your plans. Review your sale options, likely timing, and the questions to ask your servicer.
Your plans have changed.
A family change or divorce can reshape what you need from a home. Understand the property numbers and involve the right legal and financial professionals.
The payments work. The sale does not.
Compare likely sale proceeds with loan payoffs and selling costs before assuming you must bring a large amount to closing.
A notice needs prompt attention.
If a foreclosure sale is scheduled, contact your servicer and a Texas attorney promptly. This form and a home listing do not stop a sale or extend a deadline.
The short-sale homeowner guide
Understand the gap. Explore your options.
Read about lender approval, remaining debt, taxes, credit, and questions to bring to your advisers. Use the guide’s calculator to explore your estimated closing gap.
Before you decide
The questions worth asking.
You deserve clear answers about what a sale could mean for your finances and your next home.
Talk through your situation →Can I qualify if my payments are current?
Possibly. Payment history is only part of the review. Your loan’s investor, documented hardship, finances, and servicer requirements all matter. Staying current does not guarantee approval. Ask your servicer to explain the applicable program in writing.
Will I still owe money after the sale?
A release of the lien is not necessarily a release of your personal debt. Have a Texas attorney review the written approvals and deficiency-waiver language for every mortgage or other lien before closing. Do not assume California protections apply in Texas.
Will the lender ask me to bring cash?
Some programs review your income and assets and may request a contribution. A short sale does not automatically mean no cash at closing. Get any contribution, additional debt, and closing-cost terms in writing before agreeing.
Could canceled debt create a tax bill?
Yes. Canceled debt can be taxable, although exclusions may apply. For a new 2026 short sale, do not assume the former principal-residence exclusion is available. A CPA or enrolled agent should review the debt, timing, and possible insolvency exclusion before closing. Read the tax planning notes.
What about my credit and moving costs?
A short sale can affect credit and future mortgage eligibility. Waiting periods vary by program and circumstances. Ask a lender about your next purchase and your servicer whether relocation assistance is available; do not include unapproved assistance in your moving budget.
Request your private property review
Tell me what you are deciding, and I will map the next move.
Request a free, private 15-minute review with David. Submitting asks for an email response about this request. Ongoing texts, calls, and marketing email are controlled by the opt-in boxes you choose.
- No listing agreement is created by submitting this form.
- Market guidance is not legal, tax, appraisal, or financial advice.
- Please do not submit loan account numbers or financial documents.
- Have a foreclosure sale date? Contact your servicer and a Texas attorney promptly; do not wait for a response to this form.
817-966-9495
david@daviddmcelroy.com
If you want to keep your home, find a HUD-approved housing counselor.