Loan Modification Q&A - Top 10 Questions Answered- Question #7 - Will the bank stipulate an interior examination of the property condition?
Yes, your bank/lender may carry out any re-evaluations it believes necessary. The reason they do this is to confirm that the property does not have physical conditions which might negatively affect the value of your property. Your bank/lender will be extra cautios when they get to this stage of your loan modification and may even hire out what are known as BPO's (Broker Price Opinions) or perhaps send out their own independent bank appraisers. In some cases they may do both.
We will be happy to help you determine, Not only the value of your home or property in today's market, but also if a shortsale or loan modification is right for you. Call me directly at 646-294-2561 or email me ProRealtor@verizon.net
In case you missed the previous article Question #6 - Can my missed payments be added back into my new loan modification? click here
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Disclaimer: The above Real Estate information was provided by Vincent Martinez, Realtor for the #1 Real Estate offices in New York and the #4 office in the USA. Vincent Martinez is a Certified Realtor Short Sale Professional by the Long Island Board of Realtors (L.I.B.O.R.) and a member of Prudential Douglas Elliman - Licensed Real Estate Broker. Vincent Martinez does not guarantee or is any way responsible for the accuracy of the information in this blog post and information provided is without warranties of any kind, either express or implied. Information here represents the opinions and ideas of the author; comments by others may not express the views of the author. Copyright © 2008 By Vincent Martinez, Loan Modification Q&A - Top 10 Questions Answered- Question #7 - Will the bank stipulate an interior examination of the property condition? All Rights Reserved.
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