If you're encountering foreclosure in Houston, TX and also can no more manage your home, you might get approved for a Short Sale. A Houston short sale is when a homeowner sells his/her residential or commercial property for less than the amount owed on their mortgage. If your mortgage business accepts a short sale, you are able to sell your home and repay all your mortgage balance with the proceeds. Depending on your situation, you might be called for to produce a financial payment to get a short sale. A lot of lending institutions would certainly choose a short sale in Houston, TX to a foreclosure process since it allows them to recoup as much of the original lending as possible without an expensive legal process.