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| This article appeared on today's MSN Money website. I thought it might be of some assistance to those in difficulty who don't know whether a short sale could help them or not. HTH!
"Troubled owners: 3 warnings about short sales
Many struggling homeowners are considering short sales as a way to avoid foreclosure on their homes, but there are a few things they should know before taking the plunge. Dealing with the burden of owning a home that's underwater, or worth less than the underlying mortgage, can be financially devastating." |
Here is a link that might be useful: Short sales: what to consider
Follow-Up Postings:
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| Poor article. Part of negotiating a short sale is NOT having the mortgage holder report it as a deficiency to the credit bureaus. They report the debt as 'satisfied' with no further details. The $1000 sops from the government are a joke. A lender is going to allow losses of often many 10s of thousands to get a $1000 'reward'? |
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