I specialize in short sales. To date I have a 100% approval rate on the short sales I have done. I don't know how long that can continue, due to the fact that so many banks see the short sale process differently. Each short sale is unique and requires a screening process to determine a "hardship" that has occurred and a "financial inability" to sustain the debt.

That means that the Seller cannot due to hardship continue to make their payments and that they are UPSIDE down in the value of their home. THEY CANNOT SELL IT FOR WHAT THEY OWE!

There is help for Sellers in distress. You must be able to prove the hardship and your inablity to pay. The rest we can help you deal with. You should contact your bank to see if there is an opportunity to do a "workout" or if they will consider a "deed in lieu" of foreclosure (which is a considerabily less of a hit on your credit).

If the bank say "NO" to all options, then a short sale may be your best option. Foreclosure leaves the bank open to pursue you in a "deficiency judgement" for the difference in what you owe versus what the property sells for. The short sale has the possibility to negotiate this outcome.

Please be aware that this article is not meant as legal council but to relate to you what you need to investigate and learn on your own about your options to foreclosure.

If you have questions, we can help you with legal and accounting resources that can advise you on the best course of action for your specific situation.

I am Jeanean Gendron, your Redding and Shasta County Specialist. I can be reached at 530 276-7417. I answer my phone. If you would like to learn more about short sales, visit my website at www.ShortSalesSpecialistsGMAC.com.

I also have other informational website at www.TheShastaLifestyle.com, www.OwningYourFirstHomes.com and NewHomesShastaCounty.com.