Re: banks & foreclosures

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Posted by d. little on October 11, 2004 at 23:59:25:

In Reply to: Re: banks & foreclosures posted by Josh on October 08, 2004 at 02:30:08:

: 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 00:08:09 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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