I want to do a short sale while staying current, and with no hardship - hence the long shot. I called GMAC today (they hold my 1st and 2nd), but they were not much help. They pretty much said I need the house listed before they'll assign a negotiator (who can actually answer questions for real).
Like I said, I have no hardship - in fact, if I had 6 months worth of two mortgages in the bank, I would easily qualify to buy another house (to buy and walk). Too bad I don't have almost $18K in the bank. At this point it is a financial decision for me. Bought the house for 213 - owe 205 - worth 115-ish. IF the market climbed at 3% from today on, it would take me around 18 years to get out of my hole. If I walk (which I think is what is going to end up happening), my credit will be better in 2-3 years (I'm in the 700's now), and I can get a VA loan then if I choose to buy again. My credit score is not worth $90,000.
I'd rather do a short sale so I don't have to rebuild my credit, and so that I can buy another house (it would be cheaper than renting!). So it falls to GMAC on which route they want to go - either let me sell my house for a 'decent' price, or become homeowners themselves (and let me live in a house for free for a while).
My question is how do I find a Realtor that will be aggressive, and pitch the short sale to GMAC as the best option for them?