Many homeowners after they have bought a home may find themselves in some hard financial troubles and may not always be able to make the mortgage payment. It can be a little disheartening to possibly lose your home after you spend all the time and effort figure out how to buy a home. But it is the sign of the times and there are many Santa Maria homes for sale on the Santa Maria real estate market with home owners that just could not make their payments anymore due to this tough economy. So if your stop paying on your mortgage payment, what happens.

A friend of mine stopped paying for their home that is upside down. Now it’s in foreclosure and they received notice of auction date. Do they still have a chance to negotiate with the bank to sell property on short sale? Please advise.