PHOENIX-Lenders such as GMAC and Bank of America have restartedforeclosure efforts on delinquent properties after a short break.Many financially distressed homeowners hoped that the brief pausein foreclosure activity meant that banks were open to looking atalternative methods such as short sales, which have witnessed asharp increase across the US since the financial meltdown.
However, despite the increase in interest among borrowers, manylenders remain apprehensive due to concerns of fraud related toshort sale transactions. For the full story, go to New York Times.
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