And don't forget, if you're not financially distressed, you don't qualify for a short sale.This isn't true, as there are no universal guidelines nor requirements for the successful negotiation of a short sale (which is a private negotiation, after all.)Further, negotiating a short sale on a straightforward, non-coerced and voluntary basis is not "going back on your word."I am familiar with mutually agreed short sales where the lender has waived and forgiven the unrecovered loan balance even though the borrower was not in financial distress. I have also heard of cases where the lender has agreed to a partial balance continuance on unsecured loan terms without any derogatory reporting to the borrower's credit records.You won't be dinged for negotiating, as long as you're never late on the actual payments (and no, you do not necessarily have to default in order to get the lender's attention... but you *DO* have to have a qualified buyer under contract at current market values.)Luck!Dave DonhoffLeverage Planner
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