Not delinquent yet.

Hello I am the listing agent that has been trying to sell this high end home in our area for the past 3 years. Suntrust 1st & 2nd. Have not been late yet, but lost their job 1 1/2 years ago. Home is in Missouri, the fastest non-judicial foreclosing state in the country, 3 weeks from notice. I believe we could drop the price below the mortgage balances and it would sell. Does my client need to be behind on their payments before Suntrust will consider?

Thanks so much

Rohnn Kostelecky

Views: 56

Replies to This Discussion

Permalink Reply by Jeff Payne on October 12, 2010 at 6:57am
No they do not. I have an approval in hand, first and second with Suntrust, seller had to relocate and is not delinquent
Permalink Reply by rohnn kostelecky on October 13, 2010 at 5:30am
Does Suntrust tell you what price you can sell at? Do you have the ability to drop the price until it sells, or do you need their approval for each price decrease? How quickly do they respond to a bankruptcy filing?
Thanks for your help
Rohnn
Permalink Reply by Jeff Payne on October 13, 2010 at 8:24am
You need to send them an offer that reflects as close to market value as you can. they will not tell you the price to list at, they base their decisions off of the appraisal or BPO that they order so you need to be there when they appraise it.

rohnn kostelecky said:
Does Suntrust tell you what price you can sell at? Do you have the ability to drop the price until it sells, or do you need their approval for each price decrease? How quickly do they respond to a bankruptcy filing?
Thanks for your help
Rohnn

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