These answers are all accurate, but I think the real question you're asking is whether or not you can make money on your own Short Sale. This would happen if you sold your house to someone for more than the negotiated contract price. The short answer is no. Banks will typically only agree to a short sale in which the homeowner nets zero dollars. Some banks will even try to pursue a judgment for the deficiency (the difference in the money you owed and what the bank was paid by the buyer).
The best solution is to find a cash buyer for your home. An investment firm will negotiate with the bank on your behalf, and help you gracefully exit a potential foreclosure situation.
For more information or to contact an investment firm, visit http://www.CoventryInvestments.com