why banks reject short sales
If a Sacramento short sale goes to foreclosure, odds are it is not the bank’s fault, like most people believe. When you spot that sign falling over in the yard of a short sale because that sign has been there for a year or longer, it’s probably not the bank that is keeping the sale from going through. Sure, there are situations in which banks swap out negotiators like flicking dead fleas off a dog, and that can delay the short sale process, but most of the time, it is not the bank.
The reason a Sacramento short sale goes to foreclosure is typically not the seller’s fault, either. Responsible sellers choose to do a short sale over a foreclosure because they want to do what is best for their family. I can think of zero situations in which a foreclosure beats a short sale for a homeowner. Foreclosures more severely affect credit ratings and hamper a person’s ability to buy another home.