The document discusses various options for homeowners facing foreclosure, including reinstatement, forbearance plans, selling the property, refinancing, mortgage modifications, deed-in-lieu, bankruptcy, and pursuing a short sale. It provides details on the short sale process and defines a short sale as negotiating with a lender to accept less than the full loan balance at closing when the home is worth less than what is owed. It emphasizes that homeowners should hire a certified distressed property expert to navigate the short sale process and maximize the chances of a successful outcome.