Short Sale Questions and Answers

Below are some of the more frequently asked questions and answers regarding preforeclosures and shortsales.  If you have any questions about having us negotiate a shortsale, be sure you have read these first, as it will save both of us time.

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Certificate of Discharge of Property from Federal Tax Lien (Publication 783) from the IRS.

Certificate of Discharge of Property from Federal Tax Lien (Publication 783) from the IRS.

I have been paying for mortgages on both homes. I am using my savings and I cannot afford to keep paying both. I cannot afford my new home without paying my second loan. Can I short sell it?

I purchased a new home in February, with a first loan of 80% and a second loan of 20%. I listed my old home with the plan of paying my second loan as soon as the old home sold. This home has been listed for over six months and has not sold and the price has been reduced substantially. I have been paying for mortgages on both homes. I am using my savings and I cannot afford to keep paying both. I cannot afford my new home without paying my second loan. Can I short sell it?

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