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Updated almost 14 years ago on . Most recent reply

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Estates & Foreclosures

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Why would an estate choose to let a property go into foreclosure without pulling the property out or attempting to sell prior to foreclosing???

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Rusty Thompson
  • Real Estate Investor
  • Salem, OR
149
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422
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Rusty Thompson
  • Real Estate Investor
  • Salem, OR
Replied

Its a economic decision. If you were faced with inheriting Mom & Dads bad debt, would you take it? People around the country are letting there homes go back to the bank. Its a lot easier when there are no illusions of ownership to begin with...

So yes, depending the the valuation I would say that it is very common.

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