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?

You are not watching this post, click to start watching

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.

Post new comment

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd>
  • Lines and paragraphs break automatically.

More information about formatting options

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

Before You Post

All comments should be relevant to the topic of the post and are subject to the terms found in our User Agreement.

Asking a Question

If you'd like to ask a new question, please start a new topic.

Please no SPAM.

We nofollow all links and promptly remove unsolicited advertisements - spamming here is a complete waste of your time, so don't bother. Vendors who actually answer questions and provide value to our forums may include links to their company or service as part of their signature.