According to data from Fitch Ratings, short sales are becoming the norm over loan modifications in foreclosure prevention tactics. Among bank servicers, loan mods decreased 26% between 2010 and 2012. On the other hand, short sales among bank servicers increased 31% between the same years. In instances where mods are not plausible or possible, servicers look to short sales to avoid the cost of dealing with a foreclosure.
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