Tomie Scott-Deleonard

Hi, I agree, you can try a loan modification first but if ultimately you really just want to move, I would consider a Short Sale. Short sales do have pros and cons. It can potentially be damaging to your credit if you intend to purchase another house soon. However, it''s an option that alot of people are opting for because they really want or need to move and want to sell. Based on what you've said about your neighbor's home, I don't think you will have problems with your bank's appraisal of the home, which greatly influences whether your short sale gets approved or not. If you have more questions or are interested in discussing the short sale process in a little more detail, just shoot me an email: tsdeleonard@kw.com. Good luck. - Sat Oct 3 2009, 06:42