A short sale or shorts sale is an action that is used to prevent foreclosure, involving the sale of the home being foreclosure upon at a price lower than the debt. In a short sale, the lender stipulates that, by the homeowner selling the home, a foreclosure will not occur. Unlike other sales, a short sale consists of a price that is lower than the remaining debt. Since the homeowner is unable to pay their mortgage bill, the lender is willing to settle for a price that still fulfills the debt. To complete the short sale, the homeowner takes on the responsibility of selling the home rather than the lender, as it would be in a foreclosure. As a result, the overwhelming process of foreclosure is no longer necessary for either party. So in exchange for a lower price, not only does the homeowner get to avoid foreclosure and its negative impact, but the lender saves themselves from the trouble as well.