Re: banks & foreclosures

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Posted by d. little on October 12, 2004 at 00:08:09:

In Reply to: Re: banks & foreclosures posted by d. little on October 11, 2004 at 23:59:25:

: : 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.

If there were a simple way for someone in foreclosure or close to it to access equity to cure loan and without incurring more payments, would that be a big deal?

Follow Ups:

• Re: banks & foreclosures (url) - josh 08:17:44 10/12/04 (0)

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Comments:
: : : 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.

: If there were a simple way for someone in foreclosure or close to it to access equity to cure loan and without incurring more payments, would that be a big deal?


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