How the short sale process works and its benefits as a way of avoiding foreclosure.

Mortgage Relief Short Sale

Pennymac customers:

The Short Sale Process

A short sale is similar to a traditional home sale in many ways. You’ll need to work with a real estate agent to market and sell your home. Unlike a typical real estate transaction, however, you and the agent will work with Pennymac throughout the process to help ensure its success.


Pre-Sale: Pennymac and the owner or insurer of your loan approve a listing price based on the fair market value of your home. A short sale is when this amount is less than what you actually owe on your mortgage loan. We take into consideration all sale-related costs, such as broker fees and closing costs.


Listing: You list your property with a real estate broker or agent of your choice.


Offer: When you receive an offer on your home, you and your agent submit required paperwork to us, and we work with the owner or insurer of your loan for necessary approvals or counteroffers.


Closing: Once the sale closes, Pennymac releases you from all responsibilities for repaying any remaining balance on your mortgage.


Relocation Assistance: Because a short sale requires you to move to a new home, Pennymac may offer a one-time cash incentive to help with your relocation expenses. You will receive this amount at the closing, provided you have met all of the requirements above.

Speak with a Friendly Loan Resolution Specialist

Call a Loan Specialist (866) 545-9070

Hours (PST) Monday - Friday 6 a.m. - 6 p.m.
Saturday 7 a.m. - 11 a.m.


  • Pennymac does not charge fees for a modification or other loss mitigation plans when you are facing a delinquency
  • Pennymac does not accept payments from Money Gram
  • Funds are always payable to Pennymac and not to an individual

Pennymac will work with you to ensure every option possible is explored to retain home ownership. No fees. No strings.