In January, short sales outpaced foreclosures for the first time. If you’re one of the 11 million homeowners with underwater mortgages, you have two main options: Go into foreclosure or ask your lender to agree to a short sale.
The real estate market is moribund. Prices have plummeted. So who knew that people were still making big bucks from flipping properties?Turns out, speculators have found new ways to profit amid the wreckage of the housing boom.