With more borrowers falling out of the Home Affordable Modification Program, short sales are finally gathering steam.

Short sales have skyrocketed in the past two months after overtaking sales of real estate owned (properties that had been repossessed) in January, suggesting that the government's Home Affordable Foreclosure Alternatives program kick-started the short-sale market even before going into effect April 5.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.