Disclaimer: This program is not intended to provide legal advice. Any borrower or mortgagor making a significant decision in a banking or real estate transaction should always consult with an attorney in their jurisdiction. Only a qualified attorney can offer legal advice, and we are not attorneys. Therefore, we are not offering advice, only information on the general short sale process. A short sale may have significant tax implications. Contact your accountant or tax preparer for advice on all tax matters. For more information regarding tax ramifications on Short Sales, please visit IRS.GOV.