A Florida short sale occurs when a mortgage lender or servicer approves a property sale even though the proceeds will not fully satisfy the mortgage balance and other approved charges. The homeowner owns and sells the property, but the transaction cannot close unless every lender or lienholder whose payoff must be reduced agrees to acceptable terms. A short sale may provide an alternative to foreclosure when a Florida property is worth less than the total amount required to sell it. It is not automatically available, approval is…