According to the the Metrolist data analysis done by a leading real estate brokerage firm interviewed by the Denver Post in July, only 3 percent of the homes that sold in Denver in the first half of the year were short sales. During that same period there was a record setting number of properties that went into foreclosure. I agree completely with the caption under the photo in this article stating “Many homeowners are unaware that short sales are an alternative to foreclosure.”
My biggest frustration in the 5 years I have been specializing in helping people who find themselves in default on their mortgages and under water in their properties is the difficulty in reaching the people that need my help. It is difficult for a person in this situation to know who they can trust, what their options are, and how to determine the best option for them in their particular circumstances. Certainly a short sale is not the best option for everyone. However for those people that are not in a position to take advantage of the options that might help them stay in their home, a short sale is a much better solution than letting the property go to foreclosure.
Because of all of the material that comes their way via US Postal service, phone calls, internet, etc., it is very confusing to most people at a highly stressful time in their lives to determine which route to take, and who they can trust to help them along the way.