Yes, you can do a short sale on your property. The amount of the difference is not the issue. There are also many other options available to you that you may not know about. I specialize in short sales, know the process, and can negociate successfully with the banks. Based upon your initial question, it raises many additional questions, as short sales are very individualized. For example, do you have a second, or a HELOC, is this your primary residence, do you "qualify" for a short sale, do you have a "legitimate" hardship, did your loan recently reset or will it reset in the near future, have you spoken with a HUD counselor or your lender about loan remodification...? I could go on, but I will be more than happy to speak with you, explain the process, answer any questions or concerns you may have. This is no charge for you and no obligation, of course. Please go to my website http://www.VegasHomeRescue.com
or call me at 702-306-3939 as soon as possible. If you have missed any payments, time is not your friend. We may be able to help you stay in your home or sell it as a short sale. Hope to hear from you soon.
The Vegas Home Rescue Team