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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Pogeu Mahone who wrote (122193)5/11/2008 10:31:45 AM
From: Amelia CarharttRead Replies (4) | Respond to of 306849
 
Does the bank provide something in advance, in writing to say they will do this?



To: Pogeu Mahone who wrote (122193)5/11/2008 2:27:48 PM
From: Peter VRespond to of 306849
 
Actually, short sales are smart for banks to do. It saves them foreclosure costs and eliminates uncertainty of being able to sell the foreclosed property. If the short sale is priced at market value, there is no reason for a bank not to do it.

But is is more unusual than a foreclosure, and often takes a long time for the bank to approve it.


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