mold infestation: What does a foreclosing lender prefer - pay a utility bill or lose an additional $50,000? - 05/28/11 06:20 AM
Usually the lender prefers to lose $50,000 rather than pay an electric bill.
Foreclosing lenders turn down short sale offers after stringing everyone along for months or years. They scare owners off and scare tenants away if it's rented. Owners don't have money to keep utilities on in a vacant house for a year, especially while the bank toys with the seller's finances and emotions.
Banks ignore warnings
If our short sale clients move out and turn the utilities off, we notify the lender and plead with them to pay for utilities if there is a basement and a sump pump … (4 comments)