Mike Lee forgiven for about $250,000 in short-sale of house

Not long ago, word came out that Senator Mike Lee did a short-sale on his house.  Now I'd heard from others that becoming a senator was a massive paycut for him, or so it was explained to me this way.

But now we know it sold for almost $400,00 less than he'd bought it for.  So much did he actually walk from?  About $250,000.  JP Morgan Chase forgave him about quarter of a million dollars.  The majority of people who are upside-down in their homes wouldn't be able to get forgiven $25,000 in a short-sale, but a sitting senator gets this much? It looks like special-treatment from a big bank to a sitting senator.  Remember when JP Morgan reported they'd lost $2 billion?  We know how some of it was lost.

Whenever Lee lectures on fiscal responsibility, the subject of real estate had better not ever come up again.