I've seen the slow shift since mid-summer-ish, and it looks like it is official.
Banks Want you to Short Sale vs. Foreclose
It appears as if most banks have finally gotten to the point of acknowledging that short sales are a much better alternative than chasing down properties through the foreclosure process. In some states the foreclosure process takes years, and Florida is no exception. The average foreclosure time in Florida is well over 600 days! That's almost 2 years! Why would a bank want to keep lawyers employed for 2 solid years while wading through the court systems?
Apparently, they don't want to mess with foreclosures any longer if the home owner is willing to short sale. (Some banks are still a mess - I'll keep their names out of…
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