I would recommend consulting with a real estate attorney just to be sure of risks associated with a short sale....it's good you're seeking alternatives prior to actually being in default....options at this stage are greater than if you were in default
I have done several short sales this year. I would be more then happy to help you out. Call me at 904-576-4345. Check out my website,I have a lot of information which you may find extremely important.
Magnolia Properties Realty
I have listed and negotiated short sales and the banks waiver of the deficiency for clients who had to leave the state for employment reasons... But as everyone else has stated each short sale is different and I always recommend a short sale lawyer's advice... I think it is important you find a short sale lawyer and Realtor that you feel comfortable working with. I have 3 different short sale lawyer firms I use depending on my clients needs.
Decisions like this are scary and seeking guidance and advice is the smartest thing next to being pro-active... I totally understand you feeling like you have no options but due to your pro-active approach you have many options... I commend you for being pro-active and for seeking advice and encourage you to continue it will make a huge difference for you and your families future...
If I can be of assistance please contact me... Wishing you the best of luck with your difficult decisions...
Yes, you can short sale these properties. We have been closing many short sales with Bank of America and across the state of Florida. Please give us a call and we can explain the process to you. Our services are FREE for homeowners.
Eli Givoni, Director
Short Sale Department, LLC
Serving all 50 states
MARS Disclosure for General Commercial Communications
Short Sale Department, LLC is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit.
Don Price USN-RET
(904) 566-0062 "Thanks for Letting the RIVERS Move You!"
Have to agree with the other comments about contacting a real estate attorney. As with the other I can recommend one that I use who is quite good.
The attorney can start the short sale process by recommending the best course of action to take in your situation. Based on those recommendations, you should then contact a real estate agent that you feel comfortable working with to get your properties listed, marketed and eventually sold. You should do this post haste so that when you decide to return this burden will not be part of your baggage.
All the best
Charlie Chorman - REALTOR
Coldwell Banker Vanguard Realty
Each short sale situation is different depending on your circumstances, but the fact that you are moving out of the country shouldn't impede your ability to short sale your house. I recently helped a military family that relocated to Japan for assignment sell their home in Jax as a short sale with Bank of America.
The biggest question is going to be what other assets do you have? If you have other assets such as the life insurance savings you mentioned, other savings accounts, stock options or other investments, you may not qualify for a short sale, or BofA may ask you to pay some or all of the difference owed them from those assets. It is a good idea to consult with your attorney or accountant for advise on whether BofA can come after any of your other assets as part of the short sale.
If you find that you do qualify for a short sale, I'd be happy to discuss the process of selling both properties as short sales with you. Over the past few years more than half of my business has been with short sales, so I'm very knowledgeable about the process.
Prudential Network Realty
3535 Highway 17, Suite 10
Fleming Island, FL 32003
I look forward to hearing from you.