Short Sales ARE UP!

Ironically, more homeowners are short selling their homes. The reason may not be obvious. With inventories low, homeowners feel more comfortable selling their homes and getting lenders to write off payoff shortfalls.

Wall Street Journal, March 5th, 2013

The number of American homes that end up in foreclosure has started to decline, a welcome development that partly reflects an improving housing market.

But a look at data that tracks distressed home sales reveals another reason why foreclosures are becoming less prevalent: More homeowners are turning to so-called short sales—where they sell their homes for less than what they owe in mortgage debt and the bank typically eats the difference.

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