how to arrange a short saleIf you see a short sale in your future, call your bank to let them know that you have to sell and want to learn how to arrange a short sale. Sometimes people decide they simply cannot ride out this struggling market any longer, and want to learn how to arrange a short sale to save their credit score. It's in the bank's best interest to tell the owners how to arrange a short sale. The bank will lose money on the short sale, but far less than if they have to take the home back as a foreclosure.

Chances are, the bank will try to talk the current owners into doing a loan modification, which could work if the owners have a job, but have lost some income recently due to extenuating factors like medical bills, lost work, furloughs, or a death in the family. A loan modification may also be arranged for people who would still like to do a short sale down the road. When talking to the bank about their particular situation, ask them if they will allow a short sale even after the loan modification.