So why would lenders take less than what they're owed?
Then answer is: ACTUAL COSTS
1) A Lender/Bank stand to Lose A Lot More Money when they foreclose on a property!
2) Some of the costs that a Lender/Bank have to take on during a foreclosure are: It makes more sense for a lender/bank to chose a short sale when they are dealing with a Moderate Loss
Court Costs
Legal Process Fees
Arrearages
Trustee Fees and Costs of Trustees Sale
Holding Costs
High Repair Costs
Dont lose your home to Foreclosure If you are someone you know is struggling with their mortgage and could be losing their home to foreclosure, CONTACT US immediately! Let my experienced Chicago Short Sale team help you try and avoid foreclosure. You have nothing to lose and everything to gain by contacting us for a completely Free and Confidential meeting!
Jim Kontos
President--Broker--Multi Million Dollar Producer----Short Sale Specialist
RE/MAX 1st Class
Cell 630 327 9136
Office 847 674 9797
jpkontos@gmail.com
www.mychicagoshortsalesite.com