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

To: Travis_Bickle who wrote (122213)5/11/2008 11:31:01 AM
From: RockyBalboaRead Replies (2) | Respond to of 306849
 
Ok, lets assume for simplicity that the bank really "sells" the house receiving a funds transfer of 250k from the buyer.

In that case it would realise the loss on the writeoff of the unpaid balance after the bank formally releases its debtor from the remaining debt.

Similarly if the end result is a REO (with an inferred value below the loan amount) so, the bank is simply taking back the property, the bank would book a writeoff at a certain time; probably with the subsequent re-sale of the house or the next reassessment of asset values.

Ultimately the same result.



To: Travis_Bickle who wrote (122213)5/11/2008 11:31:17 AM
From: Jim McMannisRespond to of 306849
 
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