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How do Banks and other Lenders perceive Loan Modification? Would they rather foreclose?

April 26, 2017Banks foreclose lenders loan modification perceive

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How do Banks and other Lenders perceive Loan Modification? Would they rather foreclose?

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Banks DO NOT prefer foreclosure to a reasonable, workable loan modification. Contrary to public image, banks are not looking to scoop up all the homes they can find. They have more real estate in their portfolios than they can handle.