Should I short sale?
What are the advantages of a short sale?
How do I qualify for a short sale?
Where do I start?
Option 1: Bring the loan current. The only way to do this is to
pay your lender all at once and quickly. Lender will require payment on: missed mortgage payments, legal
fees, interest due, penalties and any escrow payments missed.
Option 2: For those who do not have the funds to bring the loan current. You realize that staying in your home is not worth the money owed on the mortgage, but you still want to save your credit.
**A successful
short sale negotiation may prevent the need for a foreclosure or bankruptcy. A
short sale can satisfy a loan balance in full and have no long term adverse
effects on a person’s credit file**