Why can't you tell me everything about a short sale? I can tell you what has to do with the real estate transaction part of a short sale but not tax or credit concerns.
Did you know that you, as a borrower/seller, need to speak with your tax adviser and an attorney about how a short sale can affect you? I am a Realtor, not a tax accountant or an attorney. There will be tax consequences and credit consequences and they are different for each person who goes through a short sale. Just like every person has different DNA, so does a short sale.
It takes a village to complete a short sale. This is a matter of being informed and educated. For a successful Short Sale, the seller needs to be involved and engaged. If not, everyone is spinning their wheels for nothing. An experienced Short Sale Realtor will go to the mat to get their seller the terms that work for best for the seller. Along the way we assist and facilitate the transaction so you get the highest possible dollar for your home and can walk way knowing you did everything you could.
I wish I could tell you everything about a short sale, but the truth is I can't nor can anyone else. Each short sale is different. You need to consult your Realtor, your attorney and your tax professional to get the information you need.
