CHICAGO, IL--(Marketwire -05/10/12)- Recently the housing market has taken a different direction. Foreclosures have typically surpassed short sales in terms of volume, but that trend is changing. Short sales are up and foreclosures rates are down.
The Mortgage Law Group wants their clients to know that short sales are another valuable option of unloading distressed homes.
Assuming that short sales typically pick up more money for the lender, it would be safe to assume that short sales would be another valuable option of unloading distressed homes. It is important to note that short sales don't add to the bank-owned homes (REO's) supply, the houses don't sit on the market long and the impact on home prices is not as substantial as that of a foreclosure.
If short sales continue to streamline their way past foreclosure it could mean that home prices will hit bottom by the end of 2012. Over time, we will see less homes going through foreclosure, which would decrease home prices dramatically. At best, this uptick in short sales will help avoid foreclosures, a road that no homeowner wants to go down.
If you are a struggling homeowner there are options available to avoid foreclosure. Don't wait before it is too late. The Mortgage Law Group is not only the nation's leading foreclosure law firm, but also assists clients with short sales
For more information, visit: www.themortgagelawgroup.com
About The Mortgage Law Group:
The Mortgage Law Group is one of the most sophisticated consumer protection law firms nationwide. They've helped thousands of consumers save their homes and restore their lives. With offices located throughout the country, the firm's goal is to deliver outstanding service from highly qualified mortgage relief attorneys.