Hey gang, just a short note to let everyone know that the lender
EMC, more accurately "EMC the servicing company" just accepted and
sent an approval letter for one of our DHS clients. I know I know,
your saying so what! Well...once they got the file to the mitigator, they
told us what the BPO was at and what offer they would accept.Here's
how it looked. They had a BPO at $125,000 and said they would accept
a $109,000 net. We had a buyer put in an offer at $115,000 with a
net to EMC of $101,000 and they took it. Thats an 80% net to EMC,
just like the List Price Calculator laid out.

Pretty cool when things work the way they are supposed to. Anyway,
the moral of the story is this; Some lenders are getting their act
together, speeding up the process and taking large discounts.

Keep the short sales coming and we'll keep getting you approval
letters.

Wayne

PS. They paid a full 6% commission and a $425 processing fee. If the
discount taken wasn't so deep they would have paid 7%