If you owe more than your home is worth, you may be eligible for a short sale. In a short sale, we list your home at market value (or at a price approved by your lender) and ask your lender to forgive any remaining debt (difference between the sale proceeds and your loan payoff amount). Over the course of the short sale, we negotiate with your lender and secure, in writing, a guarantee from your lender that they will release you from your mortgage obligation. Depending on the type and number of loans, some of those loans may not simply "go away" after a foreclosure - a short sale is the only way to properly settle those debts if you want to avoid the possibility of collections or even a lawsuit.
My partner and I sell an average of 50+ homes annually, most of which are short sales. We have an expert negotiator on our team - that's all he does, all day long, and he also was formerly the head of Bank of America's Fannie Mae short sale team. A professional with insider contacts will be negotiating your short sale - not an agent - and at no cost to you. We also have a partner attorney who can offer her expert assistance if we encounter an issue with your lender or if you need the additional security of having an attorney review your documents.
I recommend that you interview at least three agents before you make a decision. Make sure they have at least an SFR designation and have extensive experience in short sales. Short sales are complicated and can have huge legal and tax ramifications for the seller if they are not handled properly. Most agents are unfamiliar with the tax side of short sales, and we have accountants who can assist you with that. We are a one-stop shop for all of your short sale needs. We hold SFR, GRI and CSSN designations and have been recognized by the Phoenix Business Journal for our accomplishments as the top 3% agents in the valley. Please give me a call at 623-824-4275 if you'd like to discuss your options further.