What should I expect in a Short Sale or Foreclosure

[sadiesue]

I own a condo where I need to put in over $1,000 a month above the rental price. The economy has taken a turn for the worse and I will no longer be able to continue in this black hole. With the glut of condos on the market the condo could potentially be $100,000 less than the loan.
My loan has been transferred many times and is now in the hands of American Home Mortgage Services. I am not late with my payment yet and they told me they would not discuss loan modification until I am. I do not believe that a modification would make it feasible in this market. What can I expect with a short sale, deed in lieu or foreclosure?
Is there an appropriate person to contact at AHMS.
Thank you for all your help.

[Moe Bedard]

In order to find out what will happen in your state with a foreclosure...........you would need to consult an attorney that is familiar with the laws in your state.

Here is a link to the information on what steps to take to see the options available.............

American Home Mortgage Servicing, Inc. > Home Retention Team