Real Estate Short Sale

by Veteran

Ask Kate about real estate short sale: Kate, I have a conventional loan with PMI and my home is not worth what I paid for it in November 2004. I am a Veteran but lost my job over 2 years ago.

Veteran continues... I have extinguished my 401K and become one of the 99ers with regards to unemployment. Currently I'm living on credit card money and owe the IRS a small bit of money. Is there a program out there that I can apply for that could help me keep my home or should I just start packing?

Kate Answers: Real Estate Short Sale

Dear Veteran, Have you heard of a short sale?

A real estate short sale helps homeowners sell their houses even though the value is less than what is owed. It is thought to be to be less damaging on credit than a foreclosure.

The thought of being able to sell a house vs foreclosure certainly feels less stressful.

Where to start?

First of all, interview several agents who are experienced in the real estate short sale process. You'll want to pick one to handle it for you. Here's more on choosing a real estate agent.

I believe it is customary for the bank to pay the commissions but you should ask the Realtors if there are any fees you would be obligated to pay.

I hope a real estate short sale could offer you a glimmer of hope.

Unemployed homeowners also need an alternative to living on credit cards.

While I can't point you to a job, I can send you to a book that recently was released on the internet at no charge by Joe Vitale. When asked why he'd give his book away free he answered...

"Because I want to help. I was homeless once and lived in poverty for many years. I'm going to give away Attract Money Now to help you and anyone else who is struggling right now. I have the path to freedom and will give it to you FREE."

Go here for Attract Money Now. There is no charge. I have also included my guide to avoiding foreclosure near the bottom of this page. Look for "More Help To SAVE Your Home". I hope you find it helpful.

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Best Wishes,

Click here to post comments about a real estate short sale.

If you still have questions regarding a real estate short sale, write me at Ask Kate where every question is a good question.

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