There's a very good article about short sales in LATimes.com. It will be in the Sunday LAT as well. Here's the link. Keep in mind, the banks lose more if they foreclose than if they allow a short sale. They have to manage the property, pay the costs of the sale, keep the insurance up, etc.
Got caught in a lie so you took the post down?
ReplyDeletePeople have a hard time believing that point but it is true. Typically a bank spends over $60,000 on an average foreclosure, so avoiding it at all costs is usually in their best interest.
ReplyDeleteJonathan Christopher of Short Sale Way