Contact an Attorney
If you believe you are in a short sale situation, or if you have already missed one or more mortgage payments, your first step should be to contact a qualified attorney. A short sale is a complex legal process and you will need expert advice. A Realtor cannot give legal advice and cannot represent you with your mortgage lender. Get in touch with an experienced short sale attorney.
You should also contact a professional tax advisor. Short sale transactions may have an impact on your federal or state income tax.
Loan Modification Scams
You may be contacted by companies or other organizations offering to assist you with a loan modification or some other way to keep your home. Some are legitimate, many are not. For information on how to avoid mortgage fraud or loan modification scams, click here. You should never sign any contract or send money to anyone without consulting an attorney.
These are general guidelines, you or your attorney should check with your lender for their specific requirements. Conventional loans may have requirements that differ from federally insured or VA loans.
For more information on short sales or the alternatives, please contact our office and consult some of these web sites:
To find a HUD approved housing counselor, call: 800-569-4287 or 888-995-4673