Sub 2 Purchase

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Sub 2 Purchase

They will be forced to spend money on legal fees and either repair and re-marketing costs if they keep the property to resale. At the end of the day the bank will take a loss on the sale of the property if they sale at the auction. With nothing to gain from making a new loan, a bank wouldn’t spend money taking back and reselling a property, mainly if the mortgage loan is performing.

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