Don't Lose Your House In Foreclosure - Do a Short-Sale

Many people mistakenly think if they owe too much they have to lose the house in foreclosure. The recent talk in the media of short-sales have educated many people, but if you are not aware of a short-sale or how they work you should get educated on the process.

Now some people also mistakenly believe a short-sale is a cure for all their problems when in fact it's not. A short-sale is not always better than foreclosure in the case of a 2nd home in a non-deficiency state, and in such a case it's better to consult with a real estate attorney who specializes in that field because the real estate laws are always changing.

I recommend you watch this video made in 2007 on what a short-sale is and how you can benefit from them. In full disclosure I'm not a realtor, nor am I connected to anyone in this video.