Short Sales and Tough Terms On Loan Modifcations
Lots of US homeowners are still frustrated because, despite government support, it is very hard to get a loan modifcation. Repeat the mantra. Banks do business. They are not your friends.
Anyway, I could go on, but I think you will be better served by watching this video about how much profit banks make from short sales. Basically, because of arrangment banks that purchase mortgages from other banks make, the business of foreclosing and short selling homes is just making them too much money.
The example here uses a personal real estate loan. The story on commercial real estate transactions may even get uglier.
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