Short sales may be a new best option for Valley homeowners struggling to avoid foreclosure.

Home-loan modifications, endorsed by the federal government, are most borrowers’ first choice when they fall behind on their mortgage payments because of a drop in their income. But short sales are also part of the federal housing plan to slow foreclosures. Unlike their slower-than-expected actions on loan modifications, lenders are now moving quickly on many short-sale requests in the Phoenix area.

Full story is available on Arizona Republic