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Home > Stop Foreclosure > Bank Foreclosures, The Does Not Want To Foreclosure Bank Foreclosures, The Does Not Want To Foreclosure Why does the bank start foreclosure procedinings on my property?
Your lending company does not really want to foreclose on your real estate property. The lending company would prefer if you make monthly mortgage payments on time and take care of your real estate property.
When a lending company starts foreclosure on your real estate property there are really adding another bad loan on their books.
No mortgage payments = no incoming interest payments.
Lending companies / Banks don't want to own real estate property, they want you to own it and pay interest on it. That's how money is made.
More often than not the mortgage lender will go out of its way not to take such a drastic action like foreclosure.
Since your home is used as a collateral for the loan, If you cannot keep up with the monthly mortgage payments, the bank is forced to repocess your real estate property in an attempt to get their money back.
If you are short on cash, contact your mortgage lender immediately and make some arrangements.
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