Yes, it is $150 a year and is a short sale that has not been approved by the seller, the bank. That is it will take a long time to close if your offer is accepted by the seller... If you are not urgently in need of moving, then it is OK to pursue it. I still not recommend short sale for many reasons... It is better to pursue a foreclosure in my opinion.
If you have not worked with a realtor and need help finding your dream home, I will be happy to help you. As a buyer, you will not have to pay me anything.