Banks are against homeowners buying their own personal houses as shortsales, they rather do loan modifications that the vast majority of times don't benefit the homeowners because of the short terrm benefits, for example; many people that got their associated with interest lowered to 2% for two or five years and then this one will start climbing up many years 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 amount. My brother was capable to shortsale his house and keep it that way by cutting his house loan balance by 60%. Needed to share some unique great information regarding a company that guided him and avoid foreclosure... Thanks... #links# My websites: Short Sale Versus Foreclosure, and Your Credit - Know the Facts Before Making Your Decision