Short sale approval show a big increase from prior months. The HAFA incentives include giving relocation money to the sellers.

Most banks are allowing short sales to occur more readily and making it easier to do this than it is to do a loan modification. Wells Fargo and Chase have lead the pack – see below.

from Source: inman.com

Government provided incentives on 8,000-plus short sales through May . JPMorgan Chase and Wells Fargo are pursuing short sales more aggressively than other loan servicers participating in the government’s Home Affordable Foreclosure Alternatives (HAFA) program, according to the latest figures released by the Treasury Department.

Together, the two companies accounted for nearly two-thirds of the 17,781 agreements loan servicers had entered into with homeowners through May giving them the go-ahead for an attempted HAFA short sale or deed-in-lieu of foreclosure. Loan servicers successfully completed short sales on 8,309 of those agreements, and granted deed-in-lieu of foreclosure on 232 more, with JPMorgan Chase and Wells Fargo accounting for 60 percent of those deals.