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