It's your neighbor and Realtor from 39858 Rockcrest Circle. I just wanted to take a moment and send out a friendly reminder regarding short sales. I had such an overwhelming response from the last short sale news letter that I wanted to include some helpful links. If you or any one you know are upside down on their current home/condo please reference the government links listed below. • Home Affordable Foreclosure Alternatives Program (HAFA) www.hmpadmin.com • The Mortgage Forgiveness Debt Relief Act and Debt Cancellation www.IRS.gov The current practice of a short sale is where the lender, who is holding your mortgage, will forgive you for the difference from the current market value of how much you owe on your home. This practice has become stream lined by the government in which most banks are being backed by the government so they are not losing a dollar. This is allowing the process of a short sale to be just about 100% guaranteed by all lenders. Last year, I successfully listed 57 short sales and closed every single one of them for my clients. Furthermore, with the Debt Forgiveness Act and HAFA programs that went into effect last year, the bank on your primary mortgage CANNOT come back and tax you for the loss nor come back at a later date to garnish wages. There are also programs where you as a home owner can buy a new home along with completing a short sale on your current residence. This allowing you to eliminate an upside down mortgage while taking advantage of record low home prices and interest rates.