Since 2008, 2.2 million U.S. homes have been sold via short sales, providing financial relief to strapped homeowners and opportunities for savvy buyers and investors. In a short sale, the lender accepts less than the full amount owed on the mortgage and releases the homeowner from any future payments. The ABA Consumer Guide to Short Sales explains in plain understandable languange, how a consumer can make the most out the federal program governing short sales, the Home Affordable Foreclosure Alternative, and how a buyer can purchase a short-sale property at less than market value. The book translates technical guidelines into an easy-to-understand, practical resource that will help homeowners and potential buyers to evaluate whether a short sale transaction is the right choice for their circumstances and to discuss the short sale option knowledgably with their lenders. What's more the book is published by the ABA, so you can be sure that the information cobatined in it is unbiased, and of the highest quality. In addition, the book contains a dozen forms and notices that will help consumers negotiate and undertsand the short sale process. The book also features a full glossary on terms for those unfamilier with ther terms.