Video 48: Would a bank or lender rather do a foreclosure or see you sell your house via a short sale? It is almost never better for a lender to foreclose on a house. As long as the house is sold at fair market value the lender will average about 30% more selling the house via a short sale than they will via a foreclosure. There is an exception though, make sure you check out the video to see the exception when a short sale makes more sense for the lender. I would love to hear your thoughts or any questions you may have about short sales, you can leave a comment or e-mail me Dean Ouellette.
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UGH, MI…the silent short sale killer. Is the MI company Radian? If it’s not Radian (they’re the worst) have you tried negotiating with the MI company? Good luck!
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