Homeowners question why lenders balk at short sales

10/25/2010 | New York Times (tiered subscription model), The

Struggling homeowners are wondering why banks are reluctant to conduct short sales of properties and are instead opting for foreclosures. Lenders have raised concerns about fraud related to short sales, which occurs in 2% of sales, according to a recent industry report. That fraud costs lenders roughly $300 million each year.

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New York Times (tiered subscription model), The

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