What is better for the lenders? A short-sale or a foreclosure?

The RoseSanchez...
The RoseSanchez...
Agent
Key West, FL

What creates the greatest financial loss for the lender? A short-sale or a foreclosure?

Sat Jul 11 2009, 13:32 - Foreclosure in Key West - 1 answer
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Joel Youngs
Joel Youngs
Real Estate Pro
Jacksonville, FL
FIRST ANSWER

Hi Rose; A short sale is better for all of us. http://www.youtube.com/watch?v=7YXNE-4CGnw ,watch this,If the bank takes it back ,they will get much less than a short sale.Plus the owner sold it and didn't lose it.So they will be back on their feet in months instead of years... Plus you won't have as many houses empty in the area that you are selling in...

Sat Jul 11 2009, 15:44
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