Do you know of anyone who may be facing financial trouble or foreclosure in today's economy? According to Jobstat, an estimated 92,000 jobs will be lost in Atlanta before this year is out. With these staggering numbers, we feel it's important to equip our readers with useful information and solutions.

Those of us who are home owners know that it would be a nightmare if we or a loved one were to face foreclosing on a home and would prefer to find another alternative.One alternative for foreclosure is short sales. Short sales is selling your property for an amount that's lower than what is actually owed. However, there are many myths surrounding the act of short sales that may detour a home owner.

For example, Myth #1: Short Sales are Impossible and Never Get Approved: This myth couldn't be further from the truth. Although short sales are more difficult they are not impossible. New processes are required for short sales therefore you would need to speak with a CDPE or Certified Distressed Property Expert who has adequate training in short sales.

Myth #2: Banks are Not Accepting Short Sales; They are Waiting on a Bailout: This is another misconception, banks as well as the U.S. government would actually prefer to avoid property foreclosure. In actuality banks are pursuing Short Sales and the agents who comprehend the process.

Myth #3: You Must Be Behind on your Mortgage in Order to Negotiate a Short Sale: Although initially lenders wanted a home owner to be behind in payments before considering a short sale, this trend has slowly faded causing today's lenders to look for verifiable hardship, insolvency, or a shortage of monthly cash flow.

Myth #4: Buyers are Not Interested in Short Sales and Avoid Them: Again this has proven to be untrue in today economy. Short sales are considered GOOD DEALS by buyers. Many agents today are getting calls asking for short sales or foreclosures.

Myth #5: Listing my Home as a Short Sale is an Embarrassment: With 1 out of 5 home owners facing foreclosure today it is actually commendable and definitely not an embarrassment for someone to admit they need help and want to keep their home/property from going into foreclosure.

Myth #6: There is not Enough Time to Negotiate a Short Sale Before My Foreclosure: This is one of the biggest misconceptions out there. What many home owners fail to realize is that foreclosure doesn't happen over night, it is a process. With just a simple phone call from the home owner, a lender can stall a foreclosure with a legitimate contract. You have until the foreclosure process is actually complete; so there is plenty of time my friend.

For more information, please feel free to check out our short sale website or give Zac a call directly at 404.564.7272.