Knowledge is your friend. A short sale is a new experience
for most homeowners, but knowledge is a key to success. You should know the
pros and cons of a short sale, including the credit, tax, liability and other
potential consequences. You should also understand the overall short sale process.
What you need to do, how long the process may take, and what the common
pitfalls may be. Your Realtor may be a great resource of information. Short
sale information is also available online, such as news articles, government
websites, lenders’ websites and short sale blogs. Be careful however, as a lot
of misinformation on short sales also floats in our midst.
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