A Bank short sale is not the only choice we have to avoid foreclosure - but it is definitely better than some of the other possibilities. If a homeowner is already in this position, they are already dealing with intense financial anxiety from every angle. If approved for a bank short sale, much of this stress will be alleviated because they'll be in a great position to purchase another home.

It is extremely difficult for us as homeowners to accept the fact that our home may be lost, but if it's going to happen, avoiding foreclosure is the highest priority. It's important for us to understand clearly that a short sale is not the"only" way out, but it may be the "best" way out. If we foreclose, the lender can sue us, garnish our wages, put a lien on other property, and hound us for years. All this in addition to the destruction of our credit rating. With a bank short sale - if handled correctly, we're making an agreement with our lenders beforehand to settle most of these issues now.

For the average borrower, the complex issues of a bank short sale cause high anxiety. The new terminology we experience, the lawyers, tax forms, and all of the new issues that arise can be quite overwhelming. This is in addition to our other financial difficulties. No matter how stressful things may seem to us, we cannot forget that every party involved in this short sale process is trying to recoup as much money as they can. Don't allowed yourself to be bullied. Bankers love to drop in last second requests. Be prepared for them.

We can avoid these last second surprises by having expert advice from the beginning. Do not try to complete a bank short sale without expert advice. You'll experience many aspects of law relating to your property taxes, your loan, and your property. You'll need an expert in "each" of these disciplines. If you look you'll be able to find local services that offer the expert help of lawyers, CPA's, and real estate agents - who'll be reimbursed by the lenders. There are good ones and bad ones out there - so be careful.

A bank is obviously not going to be happy about a short sale. They'll be happy about avoiding a foreclosure, but enthusiastic is not the word I would use to describe them. They're out after their money and at times they may be quite difficult to deal with. It is for this reason that some phases of the bank short sale that should move quickly - will not. Stay patient and keep your cool. Working with a bank during a short sale is quite similar to working with the government.

Although a bank short sale is a tenuous process and all parties may not always see eye to eye, in the end, we'll be the winners. We may lose our home, but we'll be considered winners if we can get the debt forgiven, come out without any unpaid property taxes, without a bankruptcy, and be free and clear. This is the beauty of a bank short sale. It's not all roses - no, but the ultimate objective is to end up in the best position to purchase another home. The successful completion of this process puts us in a great position to succeed in this area. A bank short sale is not the only way out - but it is definitely one of the best ways!