Can I short sale my own home?   The short answer is “No”.  You need an offer from a buyer in order to get the short sale process started.  Where do you get that buyer?  As we discussed in another lesson entitled, “Should I hire an agent or an investor for my short sale?” the best person to get an offer from is an investor.  Where can you get that?  CLICK HERE and one of our short sale specialists closest to you will contact you immediately.

What can you do to be proactive?  You may be able to give the short sale process a head start by faxing your lender(s) all of the components of the short sale package, including a current financial statement, a hardship letter, your bank statements, paystubs, tax returns and any other financial documents your lender needs in order to process a short sale request. 

Lenders are very serious about homeowners not recieving any benefit whatsoever from a short sale.  That means you cannot do your own short sale and buy the property from yourself, you can’t sell it to a relative who will then allow you to lease the property back from them.  When you do a short sale, you have to be willing to wipe your hands clean of the property and move on.