short sale education: The Lender is STUPID for Not Accepting My Offer! Aren't They?
- 09/21/10 09:03 AM
The following are true CASES from our years of processing short sales: CASE A: We presented Lender X with an offer of $85,000. Lender X refused the offer, foreclosed, then listed the property for $60,000 and immediately accepted an offer of $55,000. CASE B: We provided an offer that thrilled the first lien-holder, but the second lien-holder refused to accept $3,000. The house foreclosed and the second lien-holder received $0.00 CASE C: We provided an offer of $120,000 with 3% seller concessions. The lender rejected the offer. We presented a back-up offer of $110,000 with 1% seller concessions. The lender accepts … (49 comments)
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The following are true CASES from our years of processing short sales:
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