I enjoy the Suze Orman show, and the other night she talked to a caller about the concept of selling short. She said that rather than letting a property go into foreclosure, the buyer may be able to get the lender to agree to a short sale. If I understand this correctly, this means the bank would agree to settle for whatever the home sells for and forgive any remaining amount on the loan. I am curious to see if any of you know of anyone who has ever successfully negotiated such an agreement with their lender?
