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

According to a new report from Realtor.com, short sales are gaining ground as an option for homeowners who might otherwise be headed for foreclosure.  In a short sale, a homeowner who owes more on their mortgage than their home is worth works with their lender to sell the property at a loss. Unlike a foreclosure, a short sale is a voluntary process that requires coordination with a lender to close. Last year, the U.S. had almost 30,000 short sales, making up 28% of total distressed home sales.…