If you know someone who is having trouble hanging onto their home, please encourage them to look at the short sale route. Why? First, there are definite benefits for most folks in going with a short sale rather than a foreclosure (credit scores, taxes, timing, etc). Another advantage accrues to your neighborhood by keeping home values from further deteriorating as compared to foreclosures. We all know prices are down, but the impact of a foreclosure on your neighborhood is far more dramatic than a successful short sale. See the attached article for more information http://www.realtytrac.com/content/press-releases/q2-2011-us-foreclosure-sales-report-6805
We have short sale expertise, having worked with Chase, B of A, and Fremont Bank to name a few and are getting the deals closed in as little as 60-90 days. We can talk with you or your friends/neighbors confidentially to move through the process smoothly.