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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
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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