Sometimes in life we may face situations where it is best to cut your losses and run. If the loss is your home, it is likely that the decision to do this is understandably made almost too late. If you are in the unenviable position of having to sell up and downsize because of escalating costs, an efficient real estate agent can be your best friend.
If your home is now worth less than you owe on it, he/she will be familiar with procedures and will be able to guide you through the differing aspects of negotiating a short sale. The term ’short sale’ simply refers to the fact that the current market value of your property is short of the actual figure that you owe on it.
