if the borrower does not want to sell the property, you can only do foreclosure which forcifully sells the property to a buyer, or if no one wants to buy it at a price higher than your minimum price, it becomes your property (i.e., you buy it at the price you set). Then you evict the occupant and do whatever you want.
if borrower is willing to sell the property:
short sale means you as a lender take some loss if sale price which is less than debt owned to you and is approved by you.
if sale price is more than debt owned, then it is not short sale.
so it depends on how much the property is worth, and how much debt he owns you, as well as what other liens are on the property, and the priority of your lien if you have one on that property.
if there are other liens, be ready to fight with other lenders over allocation of money of the short sale.
if your lien is junior to another lien, your lien will be wiped out if a senior lien forecloses the property.
post the property address and amount of debt here, maybe someone here is interested to buy your interest (not the property) off your hand.
