Short sales SOUND good -- and in some cases, they may help. My son tried to do a short-sale on his home...a $400,000 plus home. The short-sale would have been $10,000. less than what he owed....the bank drug it on for 9 months and then denied it!!! He ended up going bankrupt.
A friend tried to buy a house with short-sale and found the same thing happening. They were in different cities and different banks.