For all the homeowners who are upside down and can no longer make their mortgage payment (because of either a job loss, divorce, or an option ARM that’s resetting higher), up to now the only option was, well, letting the bank foreclose. That’s not a good option since a foreclosure sticks on your credit record for at least 10 years. But some experts are now advocating a “short sale.” This is a case of a distinction with a difference: If your bank agrees to a short sale, you then hire an short sale knowledgeable agent to find a buyer for the house, you sell the house for a loss (the agent will negotiate with the bank/lender on your behalf), and with the bank’s blessing, they agree to the loss. Contact The Kearney Team, your Short Sale specialists for a confidential, no obligation consultation to discuss your options.