Number of successful short sales growing

Posted on August 11th, 2010 in All Articles, Short Selling/Buying.

Banks used to take most defaulted loans to foreclosure–now the reality is that mist need to be shorted–or short sold.

The number of short sales has more than tripled since 2008, with the estimated annual volume now at 400,000, according to the real estate data and analytics firm CoreLogic.

CoreLogic says multiple variables indicate short sales will continue to be a frequent and important part of the mortgage industry.