We report – you decide…
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Banks may make more (up to 30% more) on short sales than foreclosures. http://homebuying.about.com/od/shortsale/f/Banks-Foreclosure-Short-Sale.htm
Everybody but the seller profits from a short sale – even the bank that saves the costs of foreclosure wins. But let’s not forget the seller who wins by avoiding foreclosure and until 12-31-13, doesn’t pay Federal Income Taxes on the debt forgiven. Source: http://homebuying.about.com/od/4closureshortsales/qt/060807SellShort.htm