” if they report their losses to the IRS for deductions, you’ll get a 1099 and your “forgiven” amount will be considered income that you will pay taxes on. Now, try and walk away from an income tax liability!”

FALSE. New law makes this non taxable.

SD Reator, et al, short-sale works only for people who are in financial straights (because you need to complete the hardship package and prove that you are “deserving”).

I believe that this couple here is wanting to do jingle mail or voluntary foreclosure.