Zillow Advice: Mortgage - How to get rid of house? http://www.zillow.com/advice-thread/How-to-get-rid-of-house/512248/ Zillow Advice | Zillow Real Estate Short sale will be a top ... http://www.zillow.com/advice-thread/How-to-get-rid-of-house/512248/ Short sale will be a top option but also speak with an experience attorney regarding the lender's legal right of recourse and what is likely to happen in the event of a short sale.&nbsp;<br/> Tue, 24 Sep 2013 06:31:00 GMT http://www.zillow.com/advice-thread/How-to-get-rid-of-house/512248/ 2013-09-24T06:31:00Z As several agents have mentioned ... http://www.zillow.com/advice-thread/How-to-get-rid-of-house/512248/ <p>As several agents have mentioned a short sale is a good option but from what I read you seem very&nbsp;worried about this.&nbsp; A possible other option would be to owner finance it to someone with a good down payment&nbsp;that has&nbsp;slightly&nbsp;less then perfect&nbsp;credit who could not at this time qualify for a loan.&nbsp; They might be willing to take the higher interest rate that you mentioned he had.&nbsp; Other then that a deed in lieu of foreclosure would allow him to give back the home but it will damage his credit and he would be responsible for the difference if they bank pressed it.</p> Tue, 24 Sep 2013 04:44:00 GMT http://www.zillow.com/advice-thread/How-to-get-rid-of-house/512248/ 2013-09-24T04:44:00Z As John Moran suggested, ... http://www.zillow.com/advice-thread/How-to-get-rid-of-house/512248/ As John Moran suggested, a short sale is your best option. This is in the best interest of both the bank and the seller as a foreclosure takes longer (thus the bank must pay the house's holding costs for a longer period of time) and is more damaging to a person's credit than a short sale.&nbsp;<br/><br/>For more information on the short sale process and to get started, contact a local real estate agent.&nbsp;<br/><br/>Good luck!&nbsp; Mon, 23 Sep 2013 23:51:00 GMT http://www.zillow.com/advice-thread/How-to-get-rid-of-house/512248/ 2013-09-23T23:51:00Z Based on the info provided, ... http://www.zillow.com/advice-thread/How-to-get-rid-of-house/512248/ Based on the info provided, a short sale would probably be the only option that doesn't include keeping the house or going through foreclosure.<br/><br/>A short sale is when the lender accepts less than the loan balance as payment on the loan when the house is sold. The lender is part of the process and has to approve the sale. The lender may stay go after you for a deficiency judgment, but they may also choose to waive that right.&nbsp;<br/><br/>Talk to a local real estate agent who specializes in short sales to determine if this is an option for you and what the ramifications could be.<br/><br/>Best of luck! Mon, 23 Sep 2013 23:44:00 GMT http://www.zillow.com/advice-thread/How-to-get-rid-of-house/512248/ 2013-09-23T23:44:00Z