Consider short sale
Short sale is one of your options of selling your property, residential or commercial, when unable to pay your mortgage for any hardship reason or simply your mortgage balance is much higher than the property value.
A short sale is a transaction in which the lender, or lenders, agree to accept less than the mortgage amount owed by the current homeowner. In some cases, the difference is forgiven by the lender, and in others the homeowner must make arrangements with the lender to settle the remainder of the debt.
As a short-sale certified since 2006, my team and I have been successfully closing these complex transactions, working closely with banks and mortgage companies on negotiating 1 or more mortgage balance.
Call me today for a complimentary property evaluation and a short-sale analysis for your property.