Ohio Short Sales Increase

The foreclosure listing service RealtyTrac says sales of U.S. homes facing foreclosure are on the rise and outpacing sales of bank-owned homes.Sales of homes in the process rose by 22 percent in the third quarter compared with the second quarter and the third quarter of last year. Short sales, when a lender agrees to accept less than what the homeowner owes on their mortgage, accounted for 65 percent of pre-foreclosure sales in the quarter. In Ohio, short sales rose by 26 percent. RealtyTrac spokesperson Daren Blomquist.