All the best!
Lic # 01334440
Make sure you have whatever agent you choose to help you sell your home can provide you with documentation to prove their experience. There are plenty of "experts" who attended a seminar once and sold one short sale last year...
Allowable? Possibly, but not for sure.
You will not know until you list the property, get an offer of market value, and submit it to the lender for an approval.
Harold Sharpe - Broker
So Cal Homes Realty
California Department of Real Estate Broker License # 01312992
Do not expect your lender to take the moral high ground in any case. In the current economy, the financial impact of these banks, corporations, and investors trashing the economy has been our burden, not theirs. Quite frankly, the homeowner needs to do what is right for their family and what makes the most sense in terms of their ability to put food on the table. An obligation to a bank comes in a distant second...
Please call me if I can provide further assistance
Recent laws passed have provided some help to people who move around. If you short sell and move a long distance away you are sill elgible for an FHA loans. Relocation may be grounds for a short sale (the alternative of course is that you dont move and lose your job then you have a real hardship). I'd start by calling the bank and ask what their policy is.