I live in New Mexico and my house is in foreclosure. Is a short sale a good option?


My house is currently in foreclosure. Ive talked to the lenders Countrywide and they suggested I do a short sale. They said to try to sell it at a price comparable to what other houses in the neighborhood sell for. They said if it doesnt sell for that then keep lowering the price. If that happens am I going to have to pay the remainder on it? Would it just be better to let it stay on foreclosure?

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