In the third quarter of this year, servicers increased the pace at which they completed short sales, HOPE NOW data revealed Monday.
In Q3, short sales, another solution to prevent foreclosures, totaled 110,153, up 16 percent from Q3 in 2011 when there were 94,560 completed short sales.
Quarter-over-quarter, short sales were up 3 percent. However, completed short sales were actually down month-over-month by 13 percent in September.
While short sales were up in Q3 2012, foreclosure starts were down, falling to 503,995 compared to 597,447 in Q3 2011, representing a 16 percent decline.
Foreclosure sales saw a slight 1 percent decline in Q3, dropping to 197,937 compared to 199,383 a year ago.