Clarification

[Tyra General]

Hi All,

Please help me clarify details regarding the following:

-If you are doing a short sale for a client. They walk away will no money correct? Is it possible for any amount of money to be legally given to the seller?

-Does a short sale keep sellers from being able to buy another property for 2 years? Foreclosure for 5 years?

And I also would like to know a good resource for explaining to the seller all of the negative/positive implications (credit, etc.) for doing a short sale. Any particular threads that I may have overlooked or books?

I just want to make sure I have my facts straight.

Thanks & God Bless,

Tyra