[dede]

not to foreclose and charge-off a property instead? Have a friend who's home was due to be sheriff sold this week. She received foreclosure papers in April. Today she receives a call from the bank and they have now decided to not foreclose on the property and told her that they are going to charge it off. How does that get it out of her name, and why when loans are FDIC would it have not been in the better interest of the bank to sheriff sale the home than to charge it off. Will the charge-off of the home hurt my friend more than if it had foreclosed?