When your property is in default and a possible foreclosure is just looming, consulting a qualified real estate attorney for a short sale option is crucial. Below are some of the most important questions you would need to ask your attorney.

• After taking everything into consideration, what is the best action to take on my particular case or situation?
  • Is short sale or a repayment plan a better option for me?
  • Is short sale or a forbearance plan better?
  • Is short sale or a loan modification a much better option to go?
  • What if I have an FHA loan? Is short sale or a partial claim a better way?
  • Is short sale or an assumption agreement better for me?
  • Is deed-in-lieu of foreclosure or short sale much better?
  • Should I better file bankruptcy or would short sale is the best solution for me?
• How do I start the short sale process?
• Considering my current financial situation, would short sale, deed-in-lieu of foreclosure, bankruptcy, or foreclosure cause any damages to my credit rating?
• How much time will it take for a short sale process to finish?
• Is there any tax implication or implications that I need to be aware of when choosing to undergo the short sale process?
• Can my mortgage lender still carry on with a foreclosure process even after agreeing on a short sale?
• Who pays the commission on a short sale of my real estate property?
• What are the conditions that make filing bankruptcy a better option other than a foreclosure or short sale?