When Banks Choose Between Foreclosures or Short Sales

Choosing between foreclosure and a short sale is more complicated than it seems. When a seller is upside down on their home, the lending back is forced to figure out the best option, which is the one in which it will lose the least amount of money. Most banks tend to opt for a short sale, but that is decided by certain factors and the circumstances of the seller. Although a bank may agree to a short sale, a good percentage of these deals do not make it to closing. This is due to a number of factors, including the inexperience of the listing agent, or that the final deal turned out to be unprofitable for the bank. No matter the reason, it is a decision that requires much research. Read the full article here:  http://homebuying.about.com/b/2012/10/12/when-banks-choose-between-foreclosures-or-short-sales.htm