A short sale often is the best option for homeowners who are having trouble with their mortgage payments and can’t sell the property because it is underwater (they owe more on the property than it would sell for in current market). However, it is extremely important that homeowners learn about all their options as well as the pros and cons of a short sale prior to making any decisions. A great place to start is with a CPA and/or Real Estate Attorney for tax and legal advice. There are also free counselors available through the US Treasury: www.makinghomeaffordable.gov or local HUD counselors that can be found on the California Association of Realtors new short sale site: www.shortsalescalifornia.com .
You should also find a Realtor who has training and experience in negotiating short sales. I offer a free consultation to anyone considering a short sale. Although I cannot give tax or legal advice, I can listen to the particulars of your situation and let you know if it appears that you would qualify for a short sale and what the process might look like. If you do decide to go that route, I will do my very best to ensure a successful transaction for you with the least amount of stress as possible.
Michael Bloch
Lifestyles Real Estate
Realtor, GRI, CDPE
Office 831.420.2100
Cell 831.588.1588
E-Fax 831.854.0600