Short Sales Rising as Alternative to Foreclosure

New York, NY, Oct. 19, 2011 -- Bloomberg News is reporting that U.S. home prices may get a boost from short sales, which is typically better for banks than pushing the properties all the way through foreclosure.

Bloomberg says that banks have become much more open to short sales, which typically discount property 20% rather than 40%, which is typical of a foreclosure.

Bloomberg said that short sales rose 19% in the second quarter from the prior three months.