Many of the new statutes regarding foreclosures and short sales are directed at owner occupants. The goal of the government is to find ways to keep people in their homes.

For those of you who have rental properties that are “upside down” you made want to take extra caution when considering what to do.  A conversation with a CPA is a must, and possibly an attorney.

Keep in mind a short sale is a negotiation. Some banks were limiting conversations to owner occupants that were behind on payments.

Now, many banks are changing the way they handle short sales. They are looking more at what makes sense to them. Investors are being included, even those that are current on payments.

If you have been denied in the past, you may want to give it another try. Including a Realtor in the negotiations may help, especially if they have successfully negotiated other short sales.