Sellers Still on the Hook after the Sale?

This is a great article about what a seller could face after a short-sale or foreclosure:
http://money.cnn.com/2010/02/03/real_estate/foreclosure_deficiency_judgement/index.htm
There isn't an "easy way out" of selling a home even if you just give up paying. If you have good income and assets, chances are banks will chase after you for the deficiency. Always seek the advice of a tax professional and attorney to advise you how to best handle these transcations!