Do you know if your home has enough equity to sell it? Thankfully, the markets are recovering in many regions, but sadly some markets that were hit hard when the bubble burst, are still very much equity challenged.
If you want to know what your options are without contacting a real estate agent, a great (and free) tool you can use is called the Short or Stay Calculator. All you have to do is visit the site, click on the map to find your state, and enter some basic information such as your address, contact info, and what you owe on the house. You will get a report via email that gives a rough valuation along with an estimation of fees to sell the property. Using this data, the system makes a determination as to whether or not your property is a good candidate for a short sale.