"The basic answer to what is a short sale is a short sale is a property that sells for less than the balance owing on its mortgage. A short sale can be an underwater home, an apartment building or even vacant land. If there is a mortgage balance that is greater than the market value of the home, that property is a short sale."
In order to answer your second question about rent to own. Please call.
Elizabeth G. Schwarz
office 570-629-6100 or direct 917-846-3020