Re: acquired real estate foreclosure, reo

Posted by Raul on February 25, 2008 at 05:58:39:

In Reply to: Re: acquired real estate foreclosure, reo posted by Lazaro Perez on February 24, 2008 at 07:46:46:

usually the banks want to see that you already have atleast an offer before they would consider letting the property go for less. usually the rule of thumb is 80% of whatever the homeowner owes on the first, and $1000 flat if they have a 2nd mortgage. first thing's first, find a property in preforeclosure/foreclosure, and THEN find a buyer. once you have both, it should be easy to start correspondence with the bank regarding a shortsale.

Follow Ups:


Name    : 
E-Mail  : 
Subject : 

Comments:

 

      The "Reply" function is disabled for older messages.
Please visit the Foreclosure Discussion Board for current discussions.