A growing number of homeowners are avoiding foreclosure with one little-known option

More homeowners are opting for short sales to avoid foreclosure, according to a new report from Realtor.com. This process involves selling a home for less than the mortgage owed, with lender approval, offering a more controlled outcome than foreclosure. With nearly 30,000 short sales in the U.S. last year, this method now accounts for 28% of distressed home sales, indicating a shift in how people are dealing with mortgage issues. This trend is significant as it provides an alternative to the often-damaging effects of foreclosure, potentially saving homeowners' credit and personal stability.