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Do the banks prefer short sale or foreclosure?

Banks prefer short sale vs foreclosure. They net more money in short sale. Most importantly, the listing agent must know how to negotiate on behalf of the seller, and not send multiple offers to the bank and let the bank choose. The bank is not the seller of the home. The seller is. The banks just approved the loss.
  • April 11 2010 - San Jose
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Answers (1)

Hello bshunter,

These are excellent points you make regarding short sales vs. foreclosure options in California.  Zillow offers links to more information as well.  We have posted detailed info on the new HAFA Mortgage Program on our website, where homeowners can Find Foreclosure Help Online. Thanks for the post!
  • April 12 2010
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