Maine Real Estate Websites

The reason foreclosures are becoming more and more prevalent is due to loose lending practices over the last several years. The banks allowed people to buy houses with no money down or borrow more than their home was worth. Now these same people can’t afford to pay their mortgages.
Most lenders are beginning to recognize that they profit more by avoiding the foreclosure sale completely. By avoiding the foreclosure sale, they don’t have to take yet another property back and hold it as an REO – Real Estate Owned by the bank.
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