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Why Do Banks Short Sale?




                     Call : 775-525-1205
                      www.renohelp.org
A Lender or bank takes a discount or agrees a short sale because it
saves them money.
It gets bad debt off their books so they can reinvest that money by giving
out another loan to a customer.




                                                          Call : 775-525-1205
                                                           www.renohelp.org
On average a Lender loses between $30,000 to $80,000 on each
property that they take back as a bank owned property.




                                                    Call : 775-525-1205
                                                     www.renohelp.org
• In many cases a short sale is necessary in order to get you out from
 under your mortgage debt.
• By doing a short sale, you will be able to take a large bite out of the
 money you owe to your mortgage company, so that you are no longer
 liable for the entire amount.




                                                             Call : 775-525-1205
                                                              www.renohelp.org
Also, here are the most common reasons banks will agree to a short
sale:
1 The mortgage is in arrears or foreclosure

2 The property is in poor condition

3 The homeowner has hardships and cannot afford the payments

4 New homes in the area are being chosen over existing homes

5 The area or neighborhood has depreciated in value




                                                      Call : 775-525-1205
                                                       www.renohelp.org
6 The bank's shareholders are concerned when there are too many
   defaulting loans on the books
7 Some banks are required to prove a loss each month. Let's help them
   out!
8 Some banks are required to have an amount equal to or up to six times
   the retail value of each REO "on hand" - Ouch, that hurts!
9 An REO is a liability, not asset. Too many liabilities will cause any
   business to go under if not dealt with quickly.




                                                             Call : 775-525-1205
                                                              www.renohelp.org
• As you can see, the homeowner actually has the advantage when it
  comes to a short sale.
• The banks would rather deal with the hassle of the long short sale
  process than taking a foreclose hit.




                                                        Call : 775-525-1205
                                                         www.renohelp.org
Contact MARSHALL CARRASCO

                            Twitter

                            Facebook

                            LinkedIn

                             Email


                            9740 S. McCarran Blvd #103, Reno,
                                       NV 89523

                                  Call Us : 775-525-1205



                                                   www.renohelp.org

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Why Do Banks Short Sale? - Marshall Carrasco Reno, NV Short Sale Expert

  • 1. Why Do Banks Short Sale? Call : 775-525-1205 www.renohelp.org
  • 2. A Lender or bank takes a discount or agrees a short sale because it saves them money. It gets bad debt off their books so they can reinvest that money by giving out another loan to a customer. Call : 775-525-1205 www.renohelp.org
  • 3. On average a Lender loses between $30,000 to $80,000 on each property that they take back as a bank owned property. Call : 775-525-1205 www.renohelp.org
  • 4. • In many cases a short sale is necessary in order to get you out from under your mortgage debt. • By doing a short sale, you will be able to take a large bite out of the money you owe to your mortgage company, so that you are no longer liable for the entire amount. Call : 775-525-1205 www.renohelp.org
  • 5. Also, here are the most common reasons banks will agree to a short sale: 1 The mortgage is in arrears or foreclosure 2 The property is in poor condition 3 The homeowner has hardships and cannot afford the payments 4 New homes in the area are being chosen over existing homes 5 The area or neighborhood has depreciated in value Call : 775-525-1205 www.renohelp.org
  • 6. 6 The bank's shareholders are concerned when there are too many defaulting loans on the books 7 Some banks are required to prove a loss each month. Let's help them out! 8 Some banks are required to have an amount equal to or up to six times the retail value of each REO "on hand" - Ouch, that hurts! 9 An REO is a liability, not asset. Too many liabilities will cause any business to go under if not dealt with quickly. Call : 775-525-1205 www.renohelp.org
  • 7. • As you can see, the homeowner actually has the advantage when it comes to a short sale. • The banks would rather deal with the hassle of the long short sale process than taking a foreclose hit. Call : 775-525-1205 www.renohelp.org
  • 8. Contact MARSHALL CARRASCO Twitter Facebook LinkedIn Email 9740 S. McCarran Blvd #103, Reno, NV 89523 Call Us : 775-525-1205 www.renohelp.org