tag:blogger.com,1999:blog-4558409694297595460.post-35605525940762191152008-04-08T20:38:00.006-04:002008-04-13T01:27:40.484-04:00<a href="http://bp0.blogger.com/_o4yPbFP9MAs/SAGZwp9rWQI/AAAAAAAAA7M/flbT4rLh7sE/s1600-h/change.png"><img id="BLOGGER_PHOTO_ID_5188597306884839682" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; CURSOR: hand" alt="" src="http://bp0.blogger.com/_o4yPbFP9MAs/SAGZwp9rWQI/AAAAAAAAA7M/flbT4rLh7sE/s200/change.png" border="0" /></a> More and more sellers are turning to <a href="http://homebuying.about.com/od/4closureshortsales/a/shortsalebasics.htm">short sales</a> as a way to avoid foreclosures. In a short sale, a home owner sells their property for less than the outstanding balance of the loan and the lender agrees to release the lien. The effect of a short sale on a seller's credit report is identical to that of a foreclosure. In addition, a lender has sole discretion whether to pursue a deficiency judgment. Some estimate that <a href="http://www.msnbc.msn.com/id/23997412">short sales now account for 20%</a> of all U.S. home sales.A.G.Y.noreply@blogger.com