Why Would A Lender Close A Short Sale?
August 5th, 2010 - By allanmadams
Welcome to shortsaleshift.com. Minnesota’s foremost short sale agents, Josh Pomerleau and Sarah Willman are going to discuss why a bank would want to complete a short sale.
One of the first queries we get from home owners that are going through foreclosure or beginning to skip their payments is “Why would a lender choose to do a short sale?”. Often times the house owners think that it just sounds to good to be true. But, there are a lot of reasons why a bank would favor a short sale over foreclosure. At the end of the day, it saves the lender lots more money to progress through a short sale than to progress through a foreclosure.