I’ve seen several houses that are bank owned. Do you know the one on Country Creek we discussed? The realtor told me he had an offer. This was a few days before the auction. He was sure the bank would take it as a short sale. But the property is showing up as bank owned on foreclosure.com. Do you think this is because they will go after the difference from the borrower? A short sale would preclude them from doing it. The house just a block away, on Twin Peaks Road is also bank owned. That one was only listed on the MLS a few weeks ago, presumably by the lender.
In both cases, why did the borrower decide to let the bank take the house, rather than sell it themselves? (Country Creek was listed, but obviously not motivated enough to sell)
