sanitation@lemmy.radio to me_irl@lemmy.world · 1 day agome_irllemmy.radioimagemessage-square152linkfedilinkarrow-up11.02Karrow-down113
arrow-up11.01Karrow-down1imageme_irllemmy.radiosanitation@lemmy.radio to me_irl@lemmy.world · 1 day agomessage-square152linkfedilink
minus-squarehomura1650@lemmy.worldlinkfedilinkarrow-up5arrow-down1·21 hours agoBanks do not make a profit on foreclosure. If the house sales for more than the bank is owed (including foreclosure fees), then any surplus is given to the original owner.
minus-squareredsand@infosec.publinkfedilinkarrow-up1arrow-down1·19 hours ago*sells This ignores the market manipulation they can do by just selling to “totally not related to out bank… blackrock or something”.
minus-squarehowrar@lemmy.calinkfedilinkarrow-up2·15 hours agoAre they not required to sell it on the market? So if a related company bids low, anyone else can just swoop in and take it.
Banks do not make a profit on foreclosure. If the house sales for more than the bank is owed (including foreclosure fees), then any surplus is given to the original owner.
*sells
This ignores the market manipulation they can do by just selling to “totally not related to out bank… blackrock or something”.
Are they not required to sell it on the market? So if a related company bids low, anyone else can just swoop in and take it.