Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

The Truth About Short Sales
The Truth About Short Sales  There are many stories going on especially with buyers who call me, about a "friend" who was able to buy a million dollar property for $100,000 or some other ridiculous fable and short sale myths.  Conversely, I get stories about a "friend" who short saled their house and now they're on a cruise and own another home in less than a year.  You Can't Do That - legally unless they pay cash from a recent lottery winning.
   
To short sale your home, you have to do a few things first, some of which follow and as the buyer, you should know the whole scenario:
 
 
Prove a real hardship.  A hardship is not a divorce, it's death of a spouse.  Another hardship can be a medical problem or job loss when the only employed spouse's income barely covers food and utilities and taxes.  This may get very painful.  You will have to write a hardship letter explaining why you own a boat, a rental property in another state, free and clear cars, but you just can't make your mortgage payment living your lifestyle.  You are going to have to forward a serious hardship letter, ... more

__________________________________________________
Are you on The Rain? Grow Your Network!