This course is designed to equip the real estate licensee to assist clients with short sales. It first discusses short sale transactions, short sale alternatives, the HAFA and HAMP program, and the impact of short sales on buyers, sellers, and lenders. It then explains the short sale lender and the licensee's role in a short sale transaction, including how to prepare a short sale packet for a lender. The MARS Rule and how it applied to licensees assisting clients with short sales is examined. The course concludes with a brief discussion of tenant rights during and after a short sale and an identification of the types of lender fraud that may be attempted in short sale transactions.