CLICK FOR FREE REPORTIf you are a homeowner whose property is in default or on its way, then you may be considering a short sale. Here are a few questions you should ask a qualified attorney.
1. What outcome in comparison to a short sale would be better for my particular situation?
· Is a repayment plan or a short sale better for me?
· Is a forbearance plan or a short sale better for me?
· Is a loan modification or a short sale better for me?
· I have an FHA loan; is a partial claim or a short sale better for me?
· Is an assumption agreement or a short sale better for me?
· Is a deed-in-lieu of foreclosure or a short sale better for me?
· Should I file bankruptcy or would a short sale be better for me?
2. Are there any tax implications I should be aware of if I undergo the short sale process?
3. Can my lender still proceed with a foreclosure even if a short sale is agreed on?
4. Under what conditions would filing bankruptcy be better to a foreclosure or short sale?
