The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: John Vosilla who wrote (74506)	3/22/2007 12:35:38 PM
From: MulhollandDrive	Read Replies (1) of 306849

I find it incredible that any bank rep said that.. why? the bank is on the hook for the loan balance if the borrowers go into foreclosure which would you prefer if you are the bank, a short sale where you lose 20% of your loan amount or foreclosure where you could lose considerably more? i think the more interesting aspect of this is that if banks pursue the 'short sale' route instead of foreclosure, that it could actually accelerate the inventory coming on the market there used to be a stigma attached to losing one's house to foreclosure, not so much with a 'short sale'

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