Short sales of homes on rise

The couple found a solution to their dilemma -- a "short sale," in which a lender agrees to accept less than the total amount remaining on the mortgage, allowing the homeowner to sell the property at a lower price and pay off the small er loan balance.
As foreclosures soar nationwide, lenders are more eager to negotiate short sales to avoid the expense and hassles of seizing a delinquent customer's property. Foreclosing on a house and selling it in an auction costs $50,000, on average, in New England, and that amount is on top of the funds the lender needs to pay off the loan itself.