l have a home which l can not continue to make payment now should l make short sale or just leave it for forecloser. if l make shortsale do l have to continue to make payment. and how can l make short sale for my home. And if l desire to lave the house for forecloser , how long can l live in the house after l stop to make payment. Can anyone give me an advise? thank

Sell it for as much as you can. Hopefully it will cover what you owe and you will make a few bucks. If you sell it you may be able to save your credit. If it goes into foreclosure you will have a rotten credit rating. Try and salvage what you can before foreclosure.even if you sell it for what is owing.

Short sale is much better than a foreclosure in all instances. However, have you considered a loan modification?

You do not have to make payments during a short sale. In California, you can live in your house for 7 months without making payments.

You have to place the property on the market with a realtor (try to get somone who specializes in short sale) 2. someone has to make an offer on the property 3. u contact the bank (mortagage company) once u receive an offer 4. they tell u if they will take it or not. 5. if they accept the offer, u pay what was accepted ex. home on market for $100k, u get an offer for $80k, they accept $80k.you pay nothing else.that is all u owe. ex2. home on market for $100k, u get offer for $80k, they will accept $85k, u will have to come out of pocket for additional $5k.

you can live in the house until it is foreclosed on..you can put the property on the market before foreclosure to try to obtain a short sale.

On a short sale, you will be asked to sign a promissory note for 20 years on the amount of the ''short'' portion. But you avoid a foreclosure. The foreclosure is the worst thing in the world of credit (until the recent bust).

Sign a deed to the bank today. Ask about ''Cash for Keys'' where they pay you if you drop off keys and leave the house clean..