Sheryl Arndt, Real Estate Broker â€“ Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
20+ Years Experience
Good luck to you!
The answer to your questions is: it depends. It depends on getting a lot more information that you have provided, as others here have already indicated.
As short sale expert will suggest that you try a short sale, but you need to demonstrate a hardship. Being upside down in a property is unfortunate, but lenders do not deem that to be a hardship. Seek out a qualified REALTORÂ® in your area who has had substantial short sale experience. Preferably, a Certified Distressed Property Expert. Sit down with that person and go over your situation.
For expert information and advice in regard to deficiencies and tax issues, you should also consult the appropriate professionals. Attorneys provide legal advice. Tax professionals provide tax advice. REALTORSÂ® provide real estate advice.
Here is a link to info about short sales:
More information is needed in order for me to give you the best answer to your question. Have you refinanced the home? Is this your primary residence or the rental you are asking about? Do you currently have tax liens owing on the home?
I have a 96% approved and escrow closed on my short sale listings. I would like to meet with you to discuss your situation in more detail to determine the best plan for you. You can reach me at 619-549-9251 or by email at email@example.com.
Let me know if I can help you in any way!
Joan Wilson (Realtor, SRES, Ecobroker, Certified REO, HAFA, and Short Sale Specialist)
California Cool 4 Sale
Prudential California Realty
Direct Phone: 760-757-3468
800-975-7481 x 111
Know Your Rights Home Affordable Foreclosure Alternatives (HAFA) Program
Co-author of â€œShould I Short Sale My Home?â€ Advice on what options are available.