Short sale question - how to get lender to approve

[Patricia Taveras]

Hi guys. I have purchased a few off market deals before, but never a short sale. I talked to a seller is underwater on their property and is willing to consider a short sale. The mortgage payments are behind and there are substantial fees involved in reinstating the mortgage. How could I go about helping the seller in getting the lender to agree to a short sale? I told the seller that it is my understanding that there are some negative tax implications to selling the home this way. Is there anything else the seller or I should be aware of? Any information you guys are willing to share with me would be much appreciated.