Going to sell my home on a short sale, I have questions .?

They will not approve a short sale for the tax value. That is absurd.

You need to price it near the appraised value.

Your credit will fall to about 520 with the short sale, a tiny bit better then a foreclosure.

Not enough info

Lender has to approve a short sale and these companies like you hired are really not necessary and many don't really deliver. And listing it for short sale doesn't mean it sells.

CALL your lender and talk with them. See if you can do a loan modification and lower your interest rate. Could you stay in home if your payments were less? Consider a deferment request from lender, due to wife's loss of job--they let you pay interest only for 3 months.

If you can stick it out, you're better off, but not always possible, I know. The housing market will stabilize and your home will recover some if not all of its value.

A short sale, and a deed in lieu of foreclosure both will strongly negatively impact your excellent credit.

Check out the new federal programs, affordability.

Check out HUD approved credit counselor, Hud Hope for Homes. Keep searching, don't just give up.

Call your lender and see if you can do a loan modification rather than a short sale or foreclosure. They can stretch your payments our over a longer period, give you a lower interest rate or both. The other route is to sell short sale or foreclosure which will both hurt your credit. Also they may come back after you for a deficiency if it sells for less than owed. With a skilled Realtor and allot of prayer, they may be able to reduce the deficiency owed. Remember the longer it goes on, the more you may owe so time is your enemy. Call ASAP!

now no longer passable records Lender has to approve a quick sale and those firms such as you employed are particularly now no longer mandatory and many do no longer quite furnish. And record it for short sale would not propose it sells. call your lender and communicate with them. See in case you are able to desire to do a private loan substitute and scale down your interest value. would desire to you reside in homestead in case you funds have been much less? take under consideration a deferment request from lender, because of substantial different's loss of interest--they assist you to pay interest merely for 3 months. in case you are able to stick it out, you're at an benefit, yet no longer constantly possible, i comprehend. The housing marketplace will stabilize and your place will get well some if no longer all of its value. a quick sale, and a deed in lieu of foreclosure the two will strongly negatively impact your friendly credit. be confident out the hot federal purposes, affordability. examine out HUD permitted credit counselor, Hud wish for residences. shield procuring, do no longer merely stop.

the lender has to approve a shot sale, you cant do it on your own.