How will I know that I am being released from the debt?

admin

At closing, everything will be disclosed in the approval letter from your lender. It will state that you are being released from the debt, and your lender cannot come after you for it in the future.

What are the disadvantages of a short sale?

admin

The short sale process usually takes about 4 to 6 months, and your missed mortgage payments do affect your credit. You will also be required to provide monthly financials.