My wife and I just bought a new house. The house we currently live in, is in her name only. We are going to attempt to rent the old house. If we can not, we plan to short-sale. My question is, will we get penalized on ANYTHING with the NEW house?
Yes you can. But it ll be better to contact with a real estate agent as he/she knows the conditions and laws for selling and buying property very well, So you can easily plan how to sell your property. I had also this problem like you before few months but with the help of a good real estate company I could short out my problem. Now I am happy and thanks to that company. If you want to know more about this company the just check here: www.gateberlin.com