This is a link directly to the IRS site where you will find information regarding the tax guidelines/requirements in regards to short sales and foreclosures.

This is a link to a site that offers access to law terms and this link takes you directly to their definition of a "short sale".

This takes you to a site that tells a little about what will happen in a short sale real estate sales transaction.

This is information about the foreclosure process and purchasing foreclosed homes.

This is an article I came across that talks about purchasing a short sale home.

This link takes you to an article that answers many questions about loan modifications.

This is a link to a great attorney that I had the pleasure of attending a seminar, or two, that she spoke/instructed at. Her site, like her presentations, is very informative.

This is a link to a site that has information, documents, tutorials, etc. about the program by the government that promotes home loan modifications for current homeowners.

Yes, there is the possibility that a mortgage company could come back after the deficiency from a foreclosure or short sale. There are many factors that must be considered. Some states are a non-deficiency state (though restrictions apply), also what was stated in the short sale approval letter, investment or primary residence? Many many factors. Please consult an attorney before making a decision to short sale your home.

This is kind of a summary of what has been happening in the real estate market in short sales in the state of Arizona.

An explanation of the short sale program by Federal Governement.

Home Affordable Modification Program site with information on how to participate.

HAFA (Homes Affordable Foreclosure Alternative) forms and information.