Comment

Comment by Brigitte Powell on September 10, 2010 at 12:15pm

Thanks Janie...but my hat is off to Jeff :-) lol! He has the patience of JOBE :-)
Amiee, email your negotiator thru Equator.com and ask him or her. I am doing one but mine is with GMAC and he just asked me to send him an email stating why I wanted to appeal the BPO and give supporting information.

Comment by Amiee Kane on September 10, 2010 at 9:06am

Im sure this question has been asked before but I cant find how to search within the group! How do you appeal a BPO with Bank of America?

Comment by Kyle Souza on September 9, 2010 at 11:52am

Remember BofA owns the attorney and they make more money when they take it back. ReconTrust is a part of Countrywide (now BofA) and the many other companies that they own. They make money now matter which way it goes.

Comment by Jeff Payne on September 9, 2010 at 11:32am

Bob, why would you want the bank to buy back the property themselves? What advantage would that give you? I assume that you mean at the foreclosure auction. You then have to wait to see who the listing goes to and then you are really at the mercy of the listing agent. In our area, REO properties get multiple offers on nearly every REO sale and it ends up in a bidding war, that is if the listing agent doesn't already have a buyer for it.

Comment by Janie Booth on September 9, 2010 at 11:13am

Brigitte - I was waiting for you to hop in on this one :). The problem with all of us that negotiate short sales, and especially for you "veterans", is that we actually care that our sellers avoid foreclosure and our buyers buy the home of their dreams. Unfortunately, there are some out there that do not listen to good advice, take advantage of your kindness, play their games and make illogical decisions. God bless you Brigitte, Jeff, Joe & Karyn for caring! Bob, it is a free country and you are welcome to make your own decisions, but if you lose this house due to what ever game you are playing, you will have nobody to blame but yourself.

Comment by Bob A Gare on September 9, 2010 at 11:07am

Brokers Price Opinion, that makes sense. Thanks

Comment by Bob A Gare on September 9, 2010 at 11:06am

I understand what he is saying. That's why I need to get them the rest of the info. That's all part of what they are telling me to. They think we might be at the point were the bank will just buy the house them selves. So we are taking our time to make the right decission. We only got the counter offer today.

Comment by Brigitte Powell on September 9, 2010 at 10:50am

Brokers Price Opinion (BPO) and Bob.....what ever are you thinking?

Comment by Jeff Payne on September 9, 2010 at 10:30am

All I am saying is think about it before burning down your house just to prove that you are homeless. Read Joe's post, he is right on. You need to know who the investor is. Bank of America does not care if you get the house or not. they play by their rules, you have an attorney? They still play by their rules. Just remember the golden rule, he who has the gold... rules. Right now BofA has the gold, at least for now.

Comment by Jeff Payne on September 9, 2010 at 10:25am

Your old boss is a better man than me :) What Bid are you talking about? Are you talking about your bid at the foreclosure auction? Do you have cash for the auction, our clerk of courts requires a deposit at time of auction and cash paid in full the same day. Is it your thought that you will be able to buy the home for less at the foreclosure auction? Until then, no amount of talking to the bank will help unless the seller agrees to sell. The bank can not sell the house until they own it and some states have a right of redemption to deal with. Still curious what you mean when you say your "Bid"

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