Last reviewed 10-31-2026Short-Sale.com Editorialglossary

Short Payoff

FreddieMac

Updated 10-31-2026

Short Payoff

If you can sell your house but the sale proceeds are less than the total amount you owe on your mortgage, your mortgage company may agree to a short payoff and write off the portion of your mortgage that exceeds the net proceeds from the sale.

FreddieMac Glossary

FreddieMac · p. 13

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