It was a huge relief to see that people don’t have to have hundreds of thousands to start in this business.

When I finally walked into the title company and got a check for more money than I had made for my entire life combined, it was more about the relief from finally being done with it than a celebration of achievement.

There are even debt relief programs(falsely named) that will give a second mortgage up to 125% of the appraised value.

I just breathed a large sigh of relief on reading your reply to my post.

That's a long time to justify paying the extra 5% downpayment.As for the issue with your self employment, the broker may be using a program that is more paperwork relief than a true stated income.

What a relief to know there is something that can be done.

And in all instances, there was tax paperwork (Form 2119) to fill out to show that you followed the rules.But when the Taxpayer Relief Act of 1997 became law, the home-sale tax burden eased for millions of residential taxpayers.

It didn't matter to me though.I wouldn't buy a property from my mother without an ALTA Title policy so fortunately, and to the relief of my agent, I was covered and my sale went through on time with only this little hiccup.

Failure from the borrower (not the Trustee) to make the future scheduled payments are grounds for the creditor to seek Relief from the Stay of Bankruptcy.

Joe Gore Short Sales hurt credit - FICO.See http://www.myfico.com/crediteducation/questions/foreclosure-alternatives-fico-score.aspxIt is a foreclosure.It hurts your reputation and you have to sign on Govt employment apps you have been through a foreclosure.IRS You may owe money to the IRS http://www.irs.gov/Individuals/The-Mortgage-Forgiveness-Debt-Relief-Act-and-Debt-Cancellation-To avoid a short sale,-rent the property out,-sell on sub2,-sell on lease option,sometimes better than short sale.