Ask The LA Realtor-Why would my lender accept less than I owe on my home? Lenders are in business to lend money, not to own real estate. They do not want the expense of the foreclosure process and/or the holding and maintaining of the property.
By agreeing to a "Short Sale" they will actually save money by not completing the foreclosure and holding the property in their portfolio.
This is why more and more homeowners looking for home foreclosure alternatives are turning to a short sale
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Copyright © 2011 By Stephen Munson & Luis Montejano- Munson Realty| Ask the Realtors-Ask The LA Realtors|ask the Realtors,ask the la Realtors|Why would my lender accept less than I owe on my home?|Short Sale,home foreclosure alternatives*.
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