Tips for sellers on short sales -

The number of homeowners selling their home for less than the outstanding mortgage, known as a short sale, is growing, according to government data. But it is still not an easy process. Here are a few things borrowers should consider when pursuing a short sale of their property:

1. Explore other options. Could you qualify for a loan modification that would make your home affordable? Your lender may be willing to lower the interest rate or extend the length of the loan to lower the payments.

Read the entire story.