We cannot afford the mortgage payment on our home any longer. We have gone through he process with wells fargo on our FHA loan. We had to proceed with a shortsale and finally received an offer (obviously much less than we owe) Wells accepted the offer. Will they take that as payment in full or will we still owe the difference? Should we consult with an attorney or call Wells to find out that answer? I was originally told(unfortunately by a rep) that we would have to claim the loss on our taxes but said nothing about paying the difference back to Wells. Any help would be appreciated.

You should always have a real estate attorney if you are buying or selling property, unless it is merely a transfer of ownership within close family ( and I would still do it)