Unfortunately the short sale is more common place than it should be. I was researching some other topic and I came across this video by Annie Fitzsimmons posted on the "Washington Realtor" website and it is a three part series.
For the seller I recommend part one and for the potential buyer I recommend Part III in this three part series and recommend anyone to go through all of it to learn how the banking industry handles (or does not handle) this stuff and why it takes patience and perseverance for those participating in this exercise.
The link is below.
http://www.warealtor.org/short-sales/
The bottom line is if you plan on selling via short sale, Deed in Lieu or letting your home go to foreclosure it would be good to talk to an attorney to make sure you understand the implications of your decision.
I wish us all well.
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Mortgage professional for over 22 years providing the financing for homes all over the state of Washington and all across America. Work with a licensed mortgage professional. Call if you're relocating
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