It's beneficial for the seller that is having difficulty making their monthly payment, and owes more on the property than it is worth in the current market. Because they're going to be forgiven a large portion of the money they owe, and are saving their credit (way better than a foreclosure on your credit report). It also helps you leave your situation with dignity. Please call for further information if you are in a situation where you need to sell, and you owe more on your house than it is worth. It is not so uncommon these days. For additinal information on the advantages of short sale vs foreclosure see: http://homebuying.about.com/od/4closureshortsales/qt/060907SScredit.htm
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