Banks are against homeowners buying their own houses as shortsales, they rather do loan modifications that most of the times don't benefit the homeowners because of the short terrm benefits, for instance; many people that got their interest rate lowered to 2% for just two or five years and this one will start climbing up year after year until it reaches 5%. Not just that but in most cases the homeowner will have to pay all the accumulated late fees on the underwater home price tag. My brother was able to shortsale his house and keep it that way by cutting his mortgage balance by 60%. I wanted to share some unique great information regarding a company that guided him to avoid foreclosure... Thanks... #links# My websites: How to Buy and Finance a Short Sale Property (Without Losing Your Mind or Wallet)