With foreclosures on the rise in the US, banks are looking for any way they can to minimize their foreclosure losses. It more cost effective for your lender to agree to a short sale rather foreclose on a home. Short sales and foreclosures comprise much of the market for homes in Stockton and homes in Lodi.
Â·Â Â Â Â Â Â Banks arenâ€™t in the business of owning real estate and collecting monthly mortgage payments, so a bank will take a minor loss in a short sale to start that payment cycle again.
Â·Â Â Â Â Â Â In addition, if the home is in foreclosure, a bank must pay for upkeep, insurance, and other costs. Plus, through the foreclosure process, the bank would incur legal and court fees.
The truth of the matter is that a bank can minimize their loss by ten, twenty, even thirty percent in a short sale over foreclosure.
We are Short Sale and HAFA Certified Short Sale Specialists. Visit our web-site at www.expressshortsales.info for the informative report 5 Alternatives to Foreclosure. Click on the Short Sale Page for your short sale package or.