Six Important Questions for your short sale advisor.  This is information every homeseller contemplating a short sale should have answered long before the closing table

1. Does a short sale relieve me of liability on the loan?  How do you know? Why is it that many homeowners are asked to sign a note, or face deficiency actions after a short sale?

2. Are you licensed to negotiate, change or review the paperwork related to the removal of the lien and the potential deficiency judgment? Do I need anything in writing from the lender? What will lender have me sign at the closing?

3. Should I turn over my financial information to the lender? What are the consequences? Even, if my loan paperwork might have been fudged? Are you sure I should tell the lender about my assets? 

4. Are you qualified to discuss whether my loans are recourse or non recourse?   What exceptions should concern me?  

5. Will I have tax liablity for loan forgiveness? Is there anything I can do about it?

6. Can I gain leverage against the bank by bring up RESPA, TILA and other state or federal violations?  When should I bring up those claims.  

More questions to come.