Lenders aim to recoup money they lost on distressed sales

06/16/2010 | Washington Post, The

Lenders have ramped up their efforts over the past year to recoup money they lost through distressed sales, such as foreclosures. Before the housing market meltdown, lenders rarely tried to chase after deficiencies, or the difference between what the borrower owed and what the property sold for. As foreclosures surged, however, banks have become increasingly determined to recoup their money, particularly in the case of a strategic default.

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