NO you will not be responsible for the realtor fees, attorney fees, or any other fees associated with short selling your home unless you agree to do so to help close the deal. Find a local short sale expert to help guild you through he process.
Hope that helps!
In a Short Sale, generally the Seller NETs nothing in the sale of the house. The lender agrees to accept an offer which generates less money than required to pay off the loan and all the selling expenses. They take a SHORT Payoff. Depending on your lender, some have agreed to the new HAFA guidlines, which allow you to get some cash out of the deal to cover your moving expenses. See: http://makinghomeaffordable.gov/hafa.html
Make sure that your agent is skilled and experienced at Short Sales. NEVER sign over your deed to someone who says they will "save" your house. Make sure that everything is disclosed. Also, make sure that you get a letter from the lender that states that they will not pursue a deficiency judgment against you for the balance.
Short Sales are paper intensive, time-consuming, and have many traps for the unwary. Make sure that your agent is a real pro.
An attorney and tax accountant will give you more info about the legal and financial liabilities associated witha short sale.
Brett L. Chappell
Your Mortgage Professional
The Chappell Team at MWF Inc.
(951) 316-1315 phone
(888) 360-9418 eFax
NMLS License # 356537
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Please make sure you find an experienced Realtor to represent you in your short sale.
Proper preparation of the short sale package is very important in getting the short sale approved with certain costs paid by your lenders so you will not have out of pocket expense and some lenders specifically state so in their short sale approvals.
Most fees related to the sale of your home are covered (and should be included before the negotiation take place) by the lender. They do need to be listed prior to starting negotiation with the lenders.
Attorney fee for consulting you on whether to do short sale, foreclosure, bankruptcy and their consequences are normally not covered by the lenders unless they are specifically related to the escrow.
I have been very successful in helping my clients with the short sale of their homes and I will be be very happy to work with you and guide you through the short sale of your home. Just email me or give me a call.
If you'd a free book on short sales let me know or you can request one on my site: http://www.dontforeclose411.com
Be sure to watch some of my videos regarding the Short Sale process: http://www.theshortsaleminute.com
All the best!
Ryan Smith from Temecula, CA
Before you do anything, consult with a local professional who is licensed and credible in distressed property matters.