Can we do a short sale if our home is worth less than what we owe, but we are current on payments? We have no savings must sell due to job transfer.

Asked by Carrie Horn, Fairfield County, OH Wed Apr 13, 2011

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Laura Feghali, Agent, Stamford, CT
Wed Apr 13, 2011
Hello Cwh,
In order for your lender to consider a short sale you must show them financial hardship on your end. I suggest that you contact a local agent in your area that is experienced with short sales as they can explain the process in detail so that you can make a more informed decision. If possible, interview a few agents who are short sale specialists and select the one who you feel most comfortable with and can get your home sold with the best marketing efforts.
Good luck!

Laura Feghali
Prudential Connecticut Realty
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Mike Harding, Agent, Reno, NV
Wed Apr 13, 2011
Contact a local realtor with experience doing short sales. You have a justifiable hardship. A good realtor will never advice you to start missing payments but banks mitigation departments often will not negotiate a short sale with someone that is current, but they will talk once you are one day late.
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