Since you are in Texas and the property does not show its homesteaded I will assume it is an investment property for you. We have completed several short sales on investment properties and in most cases the lender has ask for money from the seller as a deficiency judgement. typically under $10,000.
If you are interested in using the property as a rental I have a friend who is a very good property manager. I refer all this type work to him and clients have been happy with his services.
Again, I wish there was better news. If we can help further please let me know.
v/r Ron Short
The Susan Kennedy Team
CB Vanguard Realty
Last unit I sold for was...88K /2bed2bath . Now it is probably worth more..\
904 910 9814
Keller Williams Jacksonville
Condo sells are up compare to last year and is hard to find a condo regardless of short sale or none short sale. You condo will be under contract in two weeks, I have title co who's handle my short sale and attorney who can help and good things I can list your Condo for short sale and bank will pay my fees not you. Remember you have time until end of this year to sell short sell. For more advise please call me Taghi shaoei 904-536 2637
We then prepare a careful market analysis, including the viability of selling the property to investors (who are very active in our market). The attorney and his staff negotiate the short sales with the lenders and are often successful in getting sellers released on the balance of the short sale.
If you'd like to discuss in detail, send me an email or give me a call. I'm happy to assist.
The Legends of Real Estate