How much of a loss is required for a short sale?I couldn't find any info on the Internet about just how big or small a loss needs to be to qualify for a short sale. We need to sell our house and the loss will be under $25,000. Do lenders approve short sales for such a small amount?Here's the situation:My husband has taken a job transfer. We move at the end of the summer. We purchased our current home (in Texas) just over a year ago. Home prices have dropped a little, so our list price would probably be right around what we owe on the mortgage ($260,000). With closing costs around 2.5% and realtor commissions at 6%, that's around $22,000 we'd be short. Do lenders do short sales for such a small amount? If so, would they more likely forgive the debt altogether or ask for repayment? We plan to rent in our new location, so the hit to our credit would not be as great as it would be if we were looking to purchase. Our mortgage is with Wells Fargo. April 28 2012 - US0YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.