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Why Are Some Northeast OH Foreclosures and Short Sales Being Sold With Tenants Still In The Property?

Northeast OH – A person recently asked me about how the banks foreclose on properties with a tenant living in it.

“Why would a bank go to the trouble of a foreclosure if there is already a tenant in the house paying them?”, they asked me. That’s an interesting question.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

I think that the reason this happens is because the banks are not in the real estate business. They don’t want to deal with collecting rents, handling evictions, and all the other work associated with rental properties.

They just don’t have the infrastructure in place to deal with that. I think the other reason is because there are federal banking laws that prohibit banks from owning investment property.

If the banks were allowed to own rental property, then they would be more inclined to foreclose on homes. Because of this the banks don’t want to own a home with a tenant.

They want to foreclose on the house, sell it, get their money back, and lend that money to someone else. That is why the foreclose on tenant occupied homes. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at iandymorris@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (440) 348-5500

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Northeast OH loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Andy Morris.

Andy is a Real Estate Broker at Realty Trust Services.

Phone: (440) 348-5500. iandymorris@gmail.com.

View My homes for sale at www.rtserve.com.

Andy Morris specializes in loan modification assistance and short sales in Northeast OH. Northeast OH Modification Help, Northeast OH Short Sales, Northeast OH Short Sale Realtor, Northeast OH Short Sales. Northeast OH Realtor, Northeast OH Stop Foreclosure, Northeast OH Foreclosure Prevention, Prevent Foreclosure Northeast OH, Northeast OH Foreclosure Defense, Northeast OH behind in Payments.

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