Short Sale Blog

Today, Lender Processing Services (LPS) issued their latest report on foreclosure and short sale statistics, across both the United States, and here in Washington State. Overall, the trends are not positive. The total percentage of borrowers in the United States that are delinquent (excluding Foreclosures) is at 9.2%. This is a year-over-year increase of 7.9%. Foreclosure inventories increased by 13.5% during the same period.

The one bright spot is that completed short sales are on the rise. The increase in the last quarter was 9.2%. Over the last year, the number of completed short sales rose from 18,619 to 41,030 - an increase of 120%.

In Washington State, the number of non-current borrowers has stayed roughly the same in the last year, at 8.7% (excluding foreclosures). In regards to short sales, here at Seattle Short Sales, Inc. we have seen a tremendous increase in homeowner awareness concerning short sales. Many homeowners have taken the time to educate themselves on the benefits of a short sale on their credit score and future borrowing capabilities.

If you are a homeowner, please contact us today for assistance.