Why do banks look to sell repossessed property so quickly?
In fairness banks do not want a raft of properties on their books. Consider they have a wide range of capital secured against a market they are effectively forcing down in price and that will have a massive impact. By and large banks will repossess only when they need to but homeowners need to do themselves a favour and talk to their banks as quickly as they possibly can. If you are talking you are doing yourself a favour, if you are not, the bank does not know what it is dealing with in terms of risk so keep talking Peter McGahan http://www.wwfp.net/mortgage/mortgage-br… Disclaimer: The answers above are for guidance only and should not be acted upon without you receiving professional mortgage advice relevant to your circumstances.
