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Why Banks Favor Short Sales Over Foreclosure
If you've fallen behind on your mortgage, you're probably bracing for the worst: foreclosure, moving trucks, and a credit score that takes years to recover. But here's something that might surprise you — your lender doesn't want to foreclose either.
In fact, most banks would much rather work with you on a short sale than take your house back. That's not because they're feeling generous. It's because foreclosure is expensive, slow, and messy for them too.
5 min read
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