Debt Consolidation, Suffolk County
A short sale in real estate is not optimal for a homeowner. The proceeds from the sale of your house belong to the bank in order to satisfy your debt, leaving you with no profit from your investment. Many short sales leave a deficiency balance for which you're responsible. This transaction is contingent upon the sale of your home to someone who is not your alter ego. Unfortunately, you can not receive any money and it is usually performed in short period of time. With a NY or Florida short sale, you not only lose ownership of your home, but you run the risk of ruining your credit.
Though this may be a viable choice in your situation, it is my least favorite option. The homeowner is the only one who loses. The real estate broker retains their profit and fees and the purchaser benefits from your hardship.
Be careful, as short sales in Florida and New York are where most of the mortgage fraud happens today. The buyer will purchase your home at a discount and pay your bank with funds from someone who is buying in the next room for hundreds of thousands of dollars more. If they promise you money under the table, that is fraud. You don't want to be part of that.