From the Glossy Page Blog

The scenario of a San Diego short sale can be easily described as a situation when you owe your mortgage lender more on your loan than your home is currently worth and you ask the bank to allow you to sell your home and forgive the difference. The reason that a mortgage bank would agree to a short sale is to avoid foreclosing on your home and the high costs associated with foreclosure.By selling your home through a San Diego short sale, you are settling your debt with the bank and avoiding foreclosure. Best of all, it doesn’t cost you anything to sell because the bank pays your closing costs and real estate commissions from the money they get for the sale of your home.