We are considering persuing a short sale. We owe $1,350,000 on the home (in Ohio) and the realtor is proposing a listing price of $1,024,900. Mortgage is with Huntington and is current, but barely. My husband owns an office building with his father with a mortgage balance of $1,300,000 and a value of approximately $2m. I know every case is different but we are trying to get some idea of what we will have to pay of the uncovered mortgage, and will Huntington want us to pull equity out of the office building to cover it, or will they let us finance it? We really feel like we are in the dark here. No one seems to want to answer our questions until we fill out all the paperwork and sign a contract with a realtor, but without some answers we don't know if that is the right option for us.
Did you situation get resolved, M?