Dave Gormley discusses short sales, bankruptcy, taxes and more with Southern California Realtor Connor MacIvor.
There are several things that you should watch out for when approaching anyone when wanting to short sale a residence.
What type of loan do you have?
Was all the money borrowed used on the primary residence?
Have you taken out money to pay off debt – Autos – Credit Cards – Etc.?
The answers to these plus more questions could mean the difference between you being able to short sale your home, or claiming bankruptcy.