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Uploaded on Jun 22, 2011
If you are in Las Vegas, then you are probably significantly more upside down in your property then the rest of the nation, which make the decision of what to do even more important and urgent. Short Sale and Loan Modification each have their strengths and weaknesses depending on what your priorities are---but the further upside down you are, the more Short Sale becomes the clear choice.
This becomes even more true for the elderly if they want to leave anything to their children - since the Lender may have first dibs on the estate. (See estate planning -- asset protection trust to avoid this issue for the elderly or anyone).