Why Do Banks Participate in Short Sales?

  1. Banks participate in Short Sales to help homeowners and themselves prevent foreclosure.
  2. Banks cooperate to avoid the costs associated with foreclosing, and thus the managing and reselling of REO (Real Estate Owned) assets.
  3. Compared to foreclosures, short sales are less costly, less time-consuming and more likely to see completion.
  4. The over supply of foreclosure properties is a financial burden against the banks. Banks cannot afford to take back all of the foreclosed homes.

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