Re: Re: The Senate Defaults on a Foreclosure Bill
by Anonymous
I don't know about date for LA in the years requested. I did hear today that across the nation, less than 5% of foreclosures are sold at sheriff sales and most have no equity, and that more than 95% of Foreclosures sold on the steps of the courthouse become REO's. This is an advantage to the lender since the lender is then able to liquidate the debt through a property management company. However, the lender has to take on the expense. One other alternative is to Short Sale the property. The investor or home buyer then discounts the debt and takes on all of the expenses.
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