Hey Ladies
Has anyone done a short sale on a home or is a Real estate Agent with some knowledge on the subject? BF owns his home and is underwater with the value of the house. We are seriously considering relocating to another state but can't really be flexible enough to do anything with the house hanging over us. I have no stake in the property, he bought it about 2 years before we started dating.
I know that you have to have a hardship to get the bank to agree and if I didn't give him money every month and he didn't have a small savings he'd be in the red. He was fine when he bought the place but since then had a job change and his income went down, not dramatically but enough to have to pull a bit from savings every month. He's afraid of foreclosure if the bank doesn't agree to a short sale. Anyone with any insight? I looked over at the nest but they really only had some articles on buying a short sell not selling your home.