home foreclosures, short sale If you are in a position where you might be losing your home, call your lender. Banks and mortgage lenders are finally working with home owners to prevent home foreclosures. They are learning that there is little to be gained by being rigid about the loan terms their existing owners are carrying, and if a home owner is in trouble, taking a look at how to help them is the better choice. They are wise to prevent home foreclosures. They cost the banks a lot of money, and if their underwriters will allow a new loan or loan adjustments to be made, they lose less money.

There are simply too many foreclosed homes on the market, so the banks are having a hard time getting rid of their inventory, although in many places, short sale and foreclosed homes are moving well. These are almost always purchased for less than the loan amount, but it's better to lose some money on these homes rather than hold property for ages. It costs banks money to hang onto these properties, and selling at a loss is better than holding at a loss.