We cannot keep making the payments on a second home that we own in Walton County. We can’t sell it because it’s worth less than we owe on it now. Can we do a short sale?

You can submit a short sale proposal to your lender, but they will not likely entertain such an offer while you are current on payments. Typically, lenders will not consider a short sale offer until you are three or more payments behind.  If you are making the payments, there is no risk of loss, hence, no incentive to negotiate.

The quality and timing of the short sale package makes the difference between an accepted or rejected short sale.