Forum Post: Why foreclose?

What is the point of foreclosure? Can anyone tell me from a high finance view, what does it do for the bank? They lose money in the short run. If it becomes real estate owned, they have to winterize, pay to have lawns mowed, and have people monitor the property. There are so many houses sitting empty, so many that have had all the appliances, fixtures, woodwork, ceiling fans, even pipes removed by angry home owners. So now these vacant houses are in danger of mold proems since no one is there if the basement leaks to clean it up. Vermin could destroy the inside of a house if left unchecked. In the end the bank seems to lose money as well as the investor. Yet the investors (fhlmc and fnma) are making it incredibly difficult for people to get modifications. Even short sales are a long drawn out process.
There has to be some financial advantage I don't see. Anyone?