Why do the banks pay more for the home than they eve...

Submitted by elaine from CA - 06/09/2009 - 12:56pm

Why do the banks pay more for the home than they eventually list it for in MLS as an REO?

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Comments

Submitted by Sean - 06/11/2009 - 8:43pm

Given that they are owed far more typically than the house is worth, their bid at auction really doesn't matter unless they are trying to entice a 3rd party to buy it.

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