Jonathan - if you read this. Read the language in the Florida Association of Realtors Short Sale Addendum. By accepting the Short Sale, the Lender agrees to full Release and Satisfaction of the mortgage - otherwise why would the owner accept a Short Sale. NO deficiency. You should learn your facts before you make incorrect statements

Garbage....unquailied to handle short sales....."BEst of all it will cost you nothing"..... Referencing selling a home short....How about being on the hook to the lender for any deficiency? The greater the banks loss the more I am on the hook for....And if a Realtor takes a commission, the lenders loss is more and my liability is greater....duh!

stumbled on site--i find it hard to believe 2nd. mortgage positions are going to forgive a huge amount-sure they are far down on the food chain.but certainly have recourse in the manner of a private lawsuit against mortgagee

Excellent comments on the Biz week thread: The New Exit Strategy.

Good info on short sales, although the secondary mortages are in for a real battle.