Banks and Investors favor Short Sales over Foreclosure

Reasons why:

• Short sales help neighborhoods
• Bank owned properties (REO's) sell for 10 to 15% less than Short Sales
• It helps borrowers save face and not face the embarrassment of a foreclosure
• The borrower can go back and buy another home a lot sooner after a short sale
• Short sales save the time to put an REO on the market
• Short sales help customers, buyers, agents, investors who own the notes and the neighborhoods