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The concept is very simple: financial institutions are in business to lend money, and earn any on mortgage loan. If one is in default and unable to pay the monthly mortgage payments, they will take their house! Once they take back investment property that have money tangled up in it, they are very eager set it back on the market to recuperate their investment, and start out generating interest again. They are in business to make money, like any business as an example. So they cannot manage to keep some cash idle, without producing any interest.
Selling or buying a residential is a big undertaking an individual also shouldn't access it without research. Understand your rights and responsibilities, and your transaction can go more smoothly and be less stressful for your your with the.