Learn Profitable Short Sale Investing

If I start to negotiate a short sale on my house can my retirement (403b, IRA) be touched?

I know that banks look at your assets when negotiating short sales, but are retirement accounts included. Is there a way to hide that money or any money? I am drowning under my mortgage, but I don’t want foreclosure and bankruptsy. I owe 556,000 combined two mortgages and I still can’t sell my house at 540,000. It was appraised at 640, 000 at the beginning of the summer, but there is too much inventory and too few buyers. HELP!!!

Home foreclosures have become a huge problem as of late. Many people can’t even afford to pay their credit card bill much less a house payment. It has even become harder to get a reasonable home loan due to the economic crunch. This is why some homeowners have turned to the mortgage short sale. The problem with this line of thinking is that it could negatively affect your credit score. Keep in mind this is only an alternative to filing bankruptcy or going into foreclosure.

With the housing market in a downturn and hundreds, if not thousands, of homes going into foreclosure, people are beginning to talk more about and pursue foreclosure investing. But, what is it and how does it work? Well, for answers to your questions on foreclosure investing, keep reading.

What is foreclosure?

Foreclosure is a process that is initiated when a homeowner is not able to pay the mortgage on their property or sell the home quickly or efficiently enough. The financial burden is no longer manageable and the house then becomes the property of the lender or bank. Typically, the property is later sold at a below-market prices in order to settle the outstanding debt.

So much of the daily news is inundated with our new President Barack Obama flexing his muscles regarding the leaders in the banking industry, their salaries, bonuses, etc.

I wonder if any of these White House officials, senators, congressman, etc. have ever tried to purchase a home via a short sale.  These homes ARE the bad debt our tax dollars are going to “bail out”.  Why is it that no one is paying attention to this process?  If this process were regulated and streamlined, the banks would incur less debt as homes would close faster and for more money.