How to Short Sale a home

Stop the foreclosure madness

Instructions

Difficulty: Moderate

Things You’ll Need:

• Courthouse
• Calculator
• maybe real estate broker

1. Determine the total of all loans against the property. All of the information is located at your local courthouse
2. If you are using a real estate broker, add up all the cost of selling your property, then Subtract the total amount owing against the property from the estimated sale of the property. With a short sale this is a negative number
3. Contact all parties that are owed in the sell of the property. This will include mortgage people, builders is applicable, any other liens against the property. The other liens could be credit cards or auto loans. Then work with each to settle for a lower number

Tips & Warnings

• Contact the mortgage company first!
• Don't settle for the first offer