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With the improving economy, many people think that the need to fight foreclosure has ended. For some Americans, however, it is still a very real concern. Recently, Plaxico Burress had to sell his Lighthouse Point home in a short sale to avoid foreclosure. When a National Football League star has to worry about foreclosure, it stands to reason that others may have to do the same.

The NFL star, who played for the New York Giants prior to getting sentenced to two years in prison, caught the winning touchdown in Super Bowl XLII. He landed a two-year contract extension worth $14 million for his efforts. In 2011, he signed with the New York Jets to return to the NFL. He then signed with the Steelers to play the 2012 season but was injured in training camp prior to the 2013 season.

Burress purchased the 6,872 square-foot Lighthouse Point home in 2005 for $4 million. In 2010, the superstar and his wife were served with a $3.3 million foreclosure lawsuit on the home from Deutsche Bank. The recent sale of the home for $2 million, half the original purchase price, was apparently approved by the lender.

There are some instances in which a homeowner can get out from under an underwater mortgage by getting the mortgage holder to agree to a short sale. There are some special points that homeowners should consider prior to initiating a short sale, so seeking the advice of someone with experience in foreclosure prevention is advisable to ensure that the short sale is the best option for the situation.

Source: South Florida Business Journal, “Steelers receiver Burress sells home at loss to avoid foreclosure” Brian Bandell, Jan. 29, 2014