Short Sales Up 128 Percent in 2010

Results for the first nine months of 2010 are in and Fannie Mae had a 128% increase in short sales and deeds-in-lieu of foreclosure over the same period in 2009. Freddie Mac fared only slightly better, with short sales and deed-in-lieu transactions up 115% over 2009's totals.

In addition, it's evident that delays caused by this fall's robo-signing scandal have temporarily eased the pressure on distressed homeowners.  Foreclosure filings in nearly every state were halted by most of the mega banks like Bank of America and Chase while internal investigations were conducted.  Foreclosures had barely resumed again when many halted procedures for the end of the year holiday season.  A massive foreclosure filing backlog more than likely be the result for the first quarter of 2011.

Source: shorsaledailynews.com