A short sale is not based on if you are under water on the value of your home that you will automatically qualify to participate in the program. With a short sale, especially to get a sizeable relocation you have to have a verifiable financial hardship. If you are uncertain with whether or not you qualify for a short sale ask yourself these few questions:
1. Has your financial picture changed from when your loan was originated? Has a
hardship occurred (job loss, curtailment in income, divorce, health issues etc…) that prevents you from paying your mortgage?
4. Are you in a situation where you really need to sell your home?
If you answered yes to any of these questions, a short sale is certainly an option you should look at to improve your situation. A short sale can help preserve your credit and protect you from serious financial ramifications that a foreclosure could entail.