Interested in Your Own Personally Branded Magazine? Click Here!

Want to customize this content for your business?

Learn More

Categories

  • Home
  • Decor
  • Real Estate
  • Life & Culture
  • Food & Recipes
  • Holiday & Entertaining

  • Printables
  • Videos


General

  • About the Magazine
  • Advertise
  • Copyright
  • Privacy Policy
  • Cookie Policy
  • Careers


Editorial

  • Editorial Calendar
  • Issue Archive
  • Contact Us
  • Pitch an Idea

American Lifestyle Magazine Logo
  • Home
  • Decor
  • Real Estate
  • Life & Culture
  • Food & Recipes
  • Holiday & Entertaining
  • Search
  • Follow
  • 0 Heart
  • |
  • Food & Recipes Categories
    • All Recipes (774)
    • Appetizers (147)
    • Breakfast (63)
    • Cooking Tips (37)
    • Desserts (232)
    • Dinner (246)
    • Drinks (59)
    • Gluten Free (9)
    • Healthy (77)
    • Lunch (17)
    • Quick & Easy (67)
    • Vegan (38)
    • Vegetarian (59)
All Recipes | Jul 5, 2025

Ultimate Salad Wrap

  • Holiday & Entertaining Categories
    • Celebrate (5)
    • Christmas (106)
    • Easter (17)
    • Entertaining (56)
    • Fall (65)
    • Father’s Day (5)
    • Halloween (34)
    • Hanukkah (24)
    • July 4th (31)
    • Mother’s Day (7)
    • New Year’s (24)
    • Spring (29)
    • St. Patrick's Day (14)
    • Summer (52)
    • Thanksgiving (55)
    • Valentine’s Day (8)
    • Winter (82)
Backyard party
Summer | Jun 11, 2025

A Summer Party Playbook

  • Decor Categories
    • Crafts & DIY Projects (288)
    • Curb Appeal (5)
    • Decorate (93)
    • Interior Design (114)
Interior Design | Jun 4, 2025

Step Inside Virtual Design

Interior Design | Jun 3, 2025

Making Malibu Design Magic

Interior of home
Interior Design | Apr 2, 2025

A Colorado Interior Design Collaboration

  • Real Estate Categories
    • Buying & Selling (172)
    • Home Trends (16)
    • Staging (19)
    • Your First House (30)
Moving truck
Buying & Selling | Mar 25, 2025

The Proper Way to Unpack

Historic home
Buying & Selling | Aug 15, 2024

Living in History

Flower
Buying & Selling | Jul 31, 2024

Four Ways to Increase Your Home’s Value

  • Life & Culture Categories
    • Editorial (346)
    • Family & Pets (233)
    • Finances (33)
    • Health (165)
    • Travel (315)
© Iowa Natural Heritage Foundation
Travel | Jul 9, 2025

A Scenic Wonder in the Midwest

Sound meditation
Health | Jul 8, 2025

Sound Bath Meditation

Board walk
Travel | Jul 2, 2025

America’s Best Boardwalks

  • Home Categories
    • Cleaning (46)
    • Organizing (55)
    • Home Improvement (92)
    • Outdoors & Gardening (78)
Flower
Outdoors & Gardening | May 19, 2025

Create Your Blossom Bliss

Patio
Home Improvement | May 15, 2025

Freshen Up Your Patio or Deck for Spring

Mattress store
Home | Apr 14, 2025

A Mattress Buying Guide

Follow us on social media today!

Facebook Twitter LinkedIn

Out-of-the-Ordinary Home Sale Options

Buying & Selling | 3 Likes
SHARE
Facebook Twitter LinkedIn More

Home ownership is part of the American dream, but if you experience financial hardship, it can become a nightmare. Options are available, however, if you find yourself in less-than-ideal conditions—including short sales, deeds in lieu, and foreclosures. And knowing what they are can help you make an informed decision.

Calendar on yellow background

Short Sale
It’s a situation in which homeowners ask their lender to sell their house for less than their outstanding mortgage.

Pros: You could minimize having your credit rating affected. The lender may lose less money than the costlier foreclosure option. Plus, you’re still living in the home, so it’s probably still in good shape—making it a more attractive home to buyers.

Cons: The process can take several months, which may not be ideal for you or potential buyers. Also, the lender (usually a bank) has final say, so you and a potential buyer can agree to terms, but the bank can balk.

 

Hand reaching out holding keys

Deed in Lieu
Also known as a mortgage release, a deed in lieu is a situation in which you transfer the title to your home to your lender so that you can be freed from your mortgage.

Pros: Your mortgage debt is erased. You may be able to stay in the house for several months or can possibly obtain relocation assistance. You’ll avoid being in foreclosure, which helps your credit rating.

Cons: Your credit rating is still impacted. The lender, having the upper hand, may offer tough conditions for accepting the deed in lieu, including the right to ask you to pay for financial shortfalls.

 

House with yellow lawn

Foreclosure
Because of mortgage payments not being made, the lender takes control of the property from the people living in it.

Pros: The house is usually sold as quickly as possible, which could benefit a potential buyer and the lender, who could recoup more money because of it.

Cons: You’ll likely have hundreds of points slashed from your credit score. There’s boom-or-bust potential for buyers because they usually can’t see the interior before it’s sold.

 

8797 Views

This article is tagged in:

Buying and SellingHome BuyingHome SellingReal EstateReal Estate AgentReal Estate QuestionsReal Estate Tips

Related Posts

Historic home
Real Estate | Aug 15, 2024

Living in History

Fountain in backyard
Decor | Jun 24, 2024

Tips for a Facade Upgrade

Couple packing moving boxes with dog
Real Estate | Apr 26, 2024

Essential Moving Tips

Real Estate | May 15, 2023

America’s Best Cities

Real Estate | Feb 13, 2023

Put Your Best House Forward

Popular Posts

Life & Culture | Feb 17, 2020

Trash vs. Recycle: Do You Know When to Trash it?

spring-cleaning-countdown
Home | Mar 23, 2021

Spring-Cleaning Countdown

Make Your Own Seed Paper
Decor | Mar 17, 2016

Make Your Own Seed Paper

Real Estate | Dec 14, 2017

House Selling Checklist

home office with white furniture
Life & Culture | Mar 30, 2020

Here’s How to Work From Home Effectively


You may also like:

Health | Feb 17, 2020

Trash vs. Recycle: Do You Know When to Trash it?

spring-cleaning-countdown
Cleaning | Mar 23, 2021

Spring-Cleaning Countdown

Make Your Own Seed Paper
Crafts & DIY Projects | Mar 17, 2016

Make Your Own Seed Paper

Buying & Selling | Dec 14, 2017

House Selling Checklist

home office with white furniture
Health | Mar 30, 2020

Here’s How to Work From Home Effectively

decorating-basics
Interior Design | Jun 9, 2020

These Tips Are Your North Star For Home Decorating

for sale sign
Buying & Selling | Jan 18, 2021

10 Questions Everyone Selling a Home Should Be Asking

Share on Social Media

Our mission is to deliver entertainment that inspires and motivates our readers, encouraging them to follow their passions as they explore new horizons.

© 2025 American Lifestyle Magazine

General
  • About the Magazine
  • Advertise
  • Copyright
  • Privacy Policy
  • Cookie Policy
  • Careers
Editorial
  • Editorial Calendar
  • Issue Archive
  • Contact Us
  • Pitch an Idea
Categories
  • Home
  • Decor
  • Real Estate
  • Life & Culture
  • Food & Recipes
  • Holiday & Entertaining
Follow Us
Facebook Pinterest Instagram Youtube

Customize this content for your business!

Learn More

,