Short Seller Credit Consequences?

[Eduardo Fernandez]

This is my first post in this area. I've been asked by a couple of homeowners that I have approached about what happens to their credit. If the homeowner and buyer arrange a sales prices for less than what is owed and the bank agrees, what will be the consequences to their credit? Are there any other risks or negative information for the homeowner/seller? I would appreciate someones help. Thanks!