Robin - in an interview this morning, your interviewee was saying that short sales are far better than foreclosures. When you do a short sale, you as the seller will have to pay taxes on the difference between what the bank took and what you owed on the note - something your interviewee failed to mention. So you still may end up owing hundreds of thousands of dollars, this time to the IRS instead of to the bank if the banks went after you in a foreclosure. They can also still go after you in a short sale. Many banks won't do the non-recourse statement. Dealing with the lenders for a short sale is the most maddening process you could ever imagine - their system is broken! I think you may be doing a disservice to your viewers if you don't tell the rest of the story on short sales... that you are liable for those taxes once the bank sends you the 1099 for the "phantom income" - the difference between the note and the sale price. It's a double whammy - the banks win, the realtor wins, the buyer wins and the seller loses big time. I think this story needs further reporting to tell that side of it - and once the 1099's are issued for that phantom income- you can't dishcarge that debt in a bankruptcy, the seller could be liable to pay taxes on hundreds of thousands of dollars they never actually earned, unless they can prove insolvency.