Re: To foreclose or not to foreclose?

Posted by steele in minnesota on June 19, 2008 at 11:23:32:

In Reply to: Re: To foreclose or not to foreclose? posted by msoliman on June 19, 2008 at 03:33:25:

Actually my experience is very different. No lender in my area is selling for 50 cents on the dollar. And they are certainly not cutting deals like that. They average a 10-15 cent discount when REOs and the buyers are lining up to buy these bank owned homes. Now it is worth a bit more to them in a short sale situation but it really depends on the value of the property compared to the loan amount, if they are the only mortgage, etc. There are a lot of factors to consider here.

Are you an attorney? If so, you should be stating so when you are giving what many would construe to be legal advise. I would At least recommend talking to one when giving out such a specific strategy.

Curious, but in what capasity have you "beat" foreclosue time and again with these reverse
shortsales?

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