Can an owner Short Sale while in a Loan Mod (in New Jersey)?

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Hi All, 

I have a question that I am not quite clear about and was hoping someone has dealt with before. 

Does an owner who is currently in a loan modification and making payments on it have the option to short sale the property? Is this something that is up to the lender or is it even possible in the state on New Jersey?

Thanks in advance.

Luke