A recent article from the Bloomberg News wrote on Short sales starting to increase.  Part of the article reads:

"Three years into a U.S. housing slump that pushed the economy into a recession and cut resale values by 30 percent from the peak in July of 2006. Short sales tripled to 40,000 in the first six months of 2009 from the same period a year earlier.
Yet for each short sale, there were 25 foreclosures started or completed in the first half of this year, according to data from the Office of the Comptroller of the Currency.
"It's really finally dawning on banks that they're better off with a short-sale," said Richard Green, director of the Lusk Center for Real Estate at the University of Southern California in Los Angeles. "I think banks were in denial."
Wells Fargo, Bank of America Corp. & JPMorgan Chase & Co. this year have hired & trained more staff, developed software systems for expediting short-sales, & increased marketing of short sales to delinquent borrowers.

Banks are increasing such sales under pressure from the Obama administration & law makers who criticized them for favoring foreclosures and delaying short sales, Green said. Lenders & loan servicers also stand to receive up to $2,000 in incentives to close short sales under a Treasury Department plan unveiled Nov. 30th. "  Written by John Gittelsohn & Margaret Collins.

If you are someone you know is in a difficult situation, there may be a better way out, and Team Cook is here to help.  We are Short sale experts in Northern Colorado.

Call us today for more information or log into: www.coloradoshortsaleexperts.com - 970-532-2695