The American Dream, to own your own house with a white picket fence! Isn't that what everyone in America would love to do, own their own home? When the mortgage crisis kicked in it almost paved the way for lower income families to now buy homes that were more or less "discounted" for sales some up to 50% it also presented another problem, having to deal with these banks that are holding the current mortgages on these homes. A lot of homes went into foreclosure and that is where the deals kicked in, but a lot of homes also went into a pre-foreclosure state, which allowed for an agreement between owner and bank to sell the home at a lesser value than what it's worth or the mortgage is for, a discounted amount per say or a "short sale". That term really is deceiving, short sale, makes one think you are buying a home that the sale is going to move along really fast, hmmm not so much the case... short sale meaning it's being sold short of what is owed on it. Now by allowing sellers to sell homes for short sales it keeps the foreclosure off of the sellers credit, the seller can apply for financial hardship to have the balance of the mortgage(s) forgiven, and the banks get a hefty bonus from the government for letting the house go on a short sale instead of having to deal with a foreclosure and well they in turn pretty much get every penny they are owed after this big government bonus. Sounds like a good plan, right? Like a win win.. no one owes anything, bank gets all their money, and someone now has the American Dream of owning their own home for substantially less than it's true value... Well I hate to break it to you, this is not the case at all.