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More BANKS lets LAS VEGAS SHORT SALES become LAS VEGAS FORECLOSURES
Banks refuse short sales and foreclose anyway.
Unfortunately, this seems to be an increasing issue over the past 30-60 days here in Las Vegas, at least according to a lot of agents that I've been in touch with. 
Specifically, Bank of America has been the bank that all of these agents have had this happen with.  They all seem to be Las Vegas Short Sales that have been in the pipeline for over 8 months and were either Fannie Mae or Freddie Mac.  They were also deals that were forced to be put into Equator to finish them out with many of them being told "approval" was coming any day.  A few had even received an actual approval letter on the day of the sale.
Ironic how this is happening while we are being told the banks favor short sales over foreclosures and that short sales will become easier, etc...
In each case the bank tells the agents they are postponing the foreclosure sale date, even up to the 2 days before, etc and then BAM!  Foreclosure sale takes place anyway. Within 2 days the short sale agent is called by an REO agent saying they have been assigned the property.
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