Re: banks & foreclosures

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Posted by Josh on October 08, 2004 at 02:30:08:

In Reply to: banks & foreclosures posted by d. little on September 29, 2004 at 00:02:43:

Banks are in the money business and not the real estate business. They would prefer to have a performing asset (you paying your mortgage) than a foreclosed home on there books. A bank’s lending limit is determined by the ratio of good vs. bad loans they have on the books. So that is why they will sometimes settle for a loss on a short sale.

Follow Ups:

• Re: banks & foreclosures - d. little 00:14:16 10/12/04 (0)
• Re: banks & foreclosures - d. little 23:59:25 10/11/04 (2)
  • Re: banks & foreclosures - d. little 00:08:09 10/12/04 (1)
    • Re: banks & foreclosures (url) - josh 08:17:44 10/12/04 (0)

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: Banks are in the money business and not the real estate business.  They would prefer to have a performing asset (you paying your mortgage) than a foreclosed home on there books.  A bank’s lending limit is determined by the ratio of good vs. bad loans they have on the books.  So that is why they will sometimes settle for a loss on a short sale.


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