The buzz word today all across America is "Short Sale." This can be a huge benefit to a homeowner. You can't just wake up one morning and decide if you are going to sell your home at a loss by asking the lender to accept a short sale. Typically, lenders will not even consider a short sale if your payments are current. Lenders will be more agreeable to negotiate if your payments are in arrears. Plus, if you have cash assets, the lender might try to tap those accounts. Now not all the lenders will negotiate a short sale, and that is why a licensed Real Estate Broker who specializes can be a tremendous help by contacting the lenders loss mitigation department to find out if this can be an option. The homeowner wins by avoiding foreclosure and on their credit by selling their home before the foreclosure auction ever takes place even if they owe more then the property is worth.........