A short sale occurs when the lender or lenders holding a home loan agree to a payoff amount that is less than the balance of the loan.  A short sale allows you to sell your home when the market value of the home is less than what you owe. 

As the seller in a short sale, you will not incur any out of pocket expenses.  Additionally, you will have less damage to your credit history than if your house is foreclosed upon by your lender.

Call me if you would like more information on short sales or would like to discuss selling your home.