Banks View Short Sales as Better Option



America’s banks are more willing than ever to embrace a short sale in order to avoid the costly process of foreclosure, according to latest statistics from RealtyTrac. Over the last three months of 2011, there was a 15% increase in the number of short sales, totaling some 88,000 altogether

Foreclosure Rates Down in 2011, says RealtyTrac



The number of foreclosures filed last year dropped by almost 33%, falling to the lowest level in four years, according to new data from RealtyTrac. Throughout 2011, one out of every 69 homes were foreclosed on, while lenders repossessed a total of 804,000 homes – compared to last year’s total of 1.05 million homes being repossessed, when the foreclosure crisis was at its peak.