This is the most difficult market the real estate industry has seen in almost the last 20 years.  Families who made an investment in their homes are now finding that for verying reasons not only are they unable to pay their mortgage, but they aren't even able to sell their homes for what they owe.  Whether it's the common theme of an increased mortgage payment or other reasons like relocation or divorce, some families feeling like there is no other choice, just pack their bags and walk away from their home and let it be foreclosed on.  This dibilitating choice ruins a persons credit by about 300 points and also prevent the ability to buy another home for at least 4 years.  Most people aren't aware that there are other options, and a mortgage company won't bother to educate their clients about them.  Short sales are becoming a wide spread option for most home owners in this exact situation and talking to a company who specializes in these is your best option.  I have directed clients in the past to call Tom Girard from The Loan Workout Group and they have found a huge deal of success.  Take the time to educate yourself on the options and don't hesitate to call me if you have any questions.  This problem is a widespread issue nationwide and has plagued hundreds of thousands of people throughout the country, so I understand the issues and there isn't any reason for embarrasement.  Many agents haven't educated themselves on the process yet and without the experience, won't be able to sell your house even if they get an offer you and the bank would be willing to accept. 

I am a member of the R.E.Expert network, endorsed by the Real Estate Advocate.  If you would like more information either as a buyer or seller, please don't hesitate to contact me, I would be more than happy to help and earn your business.

Joshua Matthews-Keller Williams Coastal Realty-Portsmouth NH