It is sad but so very true, more homeowners today are facing foreclosure on their homes. It is happening to good people more and more each day. One of the primary problems contributing to the issues is; if you purchased a home in 2005 or 2006, chances are you owe more on our home than what it is worth today. After several months trying to attract a buyer, the typical seller falls behind paymnets and the forclosure process begins. There is a much better solution to the problem which is a much better option. It is refered to as a "short sale". This is the process where a negotiated settlement is made between the lender that holds the mortgage and the seller for a third party buyer usually facilitated by a professional such as a realtor or attorney. Many mortgage companies would rather sell the property for less than what is owed to them rather than going through the entire foreclosure process. Basically, it is a win win situation for both parties. The mortgage company wins since they avoid the expense of the forclosure process. The seller wins because they avoid the negative stigma on their credit and they can continue to live in the home until the short sale process is complete. The buyers get a home at a great price. There is no extra fees for the service to provide a short sale through a real estate agent. If you or someone you know is facing a forclosure, talk to a realtor perhaps about the details of your case.