Many homeowners are under the assumption that their 2nd mortgage bank will not foreclose, even though the homeowner is behind in their payments.

I think the biggest hurdle that most sellers have with a short sale is the worry of where to go next. After months of dealing with the bank, (often trying to work out a loan modification) the frustration and stress become paralyzing.

You've made the decision to sell, put your home on the market, and if you've price wisely, you may have multiple offers. Now that the real estate market here in Southern California has gone up a bit, you may find yourself in this position.

You've been hearing about the banks' relocation incentive for a few years now, but I'm sure a lot of people aren't sure if they really DO get the money at the end of the short sale.