Short Sale my only option?

I already modified my mortgage, but because of new circumstances I am late again. Must I Short Sale my home now?

Not necessarily.

You may be able to get another modification based on your “new circumstances.” The HAMP guidelines were recently changed to allow this. Additionally, the bank can always offer you an in-house loan modification if they want to. You may have several other options you can explore before doing a short sale. One of your options may be bankruptcy. It may be a good idea to consult with an attorney.

If you have questions about short sales in general, call Bayview Estates Realty at (516) 777-0146 to speak with a knowledgeable real estate agent.

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