At this time when homeowners are neck-deep in mortgage one could not help but think if foreclosure is the only option. There is another option though which is becoming popular all overt the country—short sale.

Over 3,000 calls every month is being received by the National Short Sale Center from all over the country from homeowners who want to know if short sale is a better option than foreclosure.

Short sale is a win-win option because the homeowner avoids damage to his credit arising from foreclosure.  This is also favorable for banks which may end up with more losses if the home is foreclosed.