For many homeowners who bought when the market was high or took out equity with refinancing. Now find them selves up side down and need to sell to avoid foreclosure. A short sale is when the seller owes more then the home is currently worth. Some lender will approve of the sale of the lower amount then owed. It’s better for them to have the home be sold rather then foreclosed on.
Feel free to call or email me if you have questions.