I CAN´T MAKE MY HOUSE PAYMENT, BUT I WANT TO STAY IN MY HOME.  WHAT SHOULD I DO?

Call your lender(s).  You may be able to renegotiate your loan in a way that will make it possible to keep your home.

I CAN´T KEEP MY HOME.  I WANT TO GO AHEAD WITH A SHORT SALE.  HOW DO I PROCEED?

1.     Contact a real estate agent who specializes in short sales.

2.     Get an opinion of value.

3.     Consult a tax and legal advisor.  There may be tax and other financial consequences when doing a short sale. Whether or not there are any depends on your individual situation. 

4.     If you decide that a short sale is the best solution for you, work with your agent to gather up the documents that you will need to complete the sale.  (A list of documents typically required by the lender in a short sale is attached).

5.     Put your home on the market and wait for a buyer.

6.     When you have accepted an offer, your agent will negotiate on your behalf with your lender.