Short Sales

Does anyone have any information or experience with Short Sales?

We are in a situation with our mortgage and it’s one of those goofy ARMs that are maturing soon. We have $ in our budget to compensate for the increase so we’re fine there but we’ve decided to list the house in hopes of moving.

We have our house listed for sale, and it’s listed as a ‘short sale’. My question is – has anyone done this type of transaction before? Any feedback/input you have would be very helpful. Our real estate agent has been very helpful but I’m somewhat uneasy, mainly from the credit prospective, and haven’t been able to find a lot of information online. I sincerely appreciate the help!

I have a lot of experience with short sales. I currently work as a few Realtors right hand person to get them approved by the bank.

Do you know if your realtor has submitted a short sale package to the bank yet?

Just let me know what questions you have and I will do my best to answer them.

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