Why Should the Bank Approve Your Short Sale?

There are many reasons that a short sale is much better than a foreclosure for a bank.

• Banks make more money. They have figured out over the few years that they net more money when doing short sales. Those attorneys that help them foreclose are not cheap.
• Saves a lot of time. The foreclosure timeline is a lot longer than completing a short sale. This also saves a lot of money since time equals money.
• Less inventory for banks. Banks don't really want to own your home. If they did own your home, that means more cost to them to maintain like taxes, mello-roos, insurance and maintenance like HOA fees.
• Better for the economy. The less homes the banks own means the more homes people own which is much better for the whole economy and will provide more stabilization to the housing market.