How can Bank of America do a Short Sale on my home if I'm NOT behind on my mortgage?

Bank of America is my mortgage company and I tried to do a home loan modification. After faxing, mailing documents, telephone calls and MORE faxing to BOA I have been denied a home loan modification and now they want to do a Short Sale on my property. I am NOT delinquent on any of my mortgage payments, so how can they do a short sale? I admit I am behind on my other bills but I AM current with Bank Of America! I WANT TO KEEP MY HOME!

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