Once in awhile we have a lawyer come to the office or have a customer seek an attorney’s advice and they’ve been told to file bankruptcy because they won’t be able to get their home sold via short sale.
These are actually necessary for owners who’re falling behind on their mortgages or choosing to go behind on their mortgages. If at all possible, we encourage people to remain current on their association dues.
There are a lot of different factors involved. We have had some approved in a week or even as long as 10 months, so there is a wide range of what your situation is and how quickly it will get approved.
Some of the most common questions are about the credit consequences for doing a short sale. Some people have a high credit score and have never missed a payment on anything and don't want to do a short sale.
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Josh Pomerleau on CNN
Josh Pomerleau, founder of Short Sale Shift and the Pomerleau Team, is featured on "The Situation Room" on CNN discussing the housing market and sharing his knowledge and expertise...