Wary lenders deny short sales, opt to foreclose - The Boston Globe

Wary lenders deny short sales, opt to foreclose - The Boston Globe: "But the young couple’s hopes were crushed when their mortgage holder, JPMorgan Chase & Co., rejected the deal on the grounds the condo was worth more than the $240,000 the buyer was willing to pay.

Instead, the parents of two young children watched in anguish Sept. 16 as the bank foreclosed upon their home. Weeks later, JPMorgan put the home back on the market, priced about $7,000 below what the prospective buyer offered. Today, the family is gone and the house is empty.

“We gave it 100 percent of an effort and tried our hardest,’’ said Linda Robbins. “It was the bank not willing to work with us.’’"