Short sale

A short sale can refer to various kinds of transactions:
 * Short (finance) – the seller is not the owner of a security that he or she sells
 * Short sale (real estate) – the lender allows a property to be sold for less than the amount owed on a mortgage and takes a loss. This usually occurs when the market drops and the property is worth less than what the current mortgage is. Usually facilitated by a loss mitigator who negotiates that debt owed down to level where the property can be sold.