I just got of the phone with a guy who called me and said that his neighbor was moving. He had bought a new house and now had his first house up for a short sale! He wanted to know if he could do that. In Idaho banks can go after you for the amount difference between what they get for a short sale or a foreclosure. Maybe this hasn't been done yet. But I think your asking for it and someday someone is going to get it.
If not illegal, this is certainly unethical. I know there are Realtors knowingly doing this. I think there are going to be some repercussions like licenses. Or maybe jail. I would not knowingly do this. This guy was not very upside down. A year or two and he may not be. He got a new job, better income and is going to be able to get right side up. I hope to help him in a year or so.
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