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Thinking about Short Selling? Get these questions answered first

by Rob Regan on February 4, 2011

If you want to sell your home or condo, but owe more on your loans than your house is worth, a Short Sale may be an option.  HOWEVER, the below questions, posed on the website of a California attorney, are MUSTS for you to understand:

• What liability do I have to my lender now—and how is it changed by a short sale?
• Will my income tax obligations be increased?
• Are my liabilities different if my lender does not cooperate in a short sale and the house is foreclosed?
• What exactly are those “other potential consequences”?

I can’t vouch one way or the other for The Law Offices of Fred J. Scholz. But the above came from his very informative website so he seems like he is worth a call.  If you are in San Francisco and know you want to Short Sell your property please fill out this short sale request form.

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