Steve Loynd
  • Male
  • Lincoln, NH
  • United States
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Managing Broker at a White mountain N.H. Realty Firm involved with short sales, resort development and general brokerage, primary focus Second homes...and custom design- build services.

Steve Loynd's Blog

A $50 BPO will cost the seller, lender and listing agent ...a big chuck of change.

Posted on November 18, 2009 at 2:30am 2 Comments

Another Short sale story...where a BPO done from a-far was the kiss of death



Working on a short sale in a project where the last sale was over a year ago, I advised the seller of the likely selling price and asked for the price adjustment...subject to his lenders acceptance on a short sale offer.



90 days from listing date (showing this was still not a give away price) a 90% offer is made, with the only condition being the seller lender accepting the short sale. Two months… Continue

Interest only land loan, from Bank of America is killing this client.

Posted on October 22, 2009 at 4:06am 6 Comments

The Short sale and the Sole Proprietor

I have been working on a short sale for several months, and the seller is truly in a hardship position…stuck between a rock and a hard place.



He is paying an interest only note on land at 8%; he was able to arrange a 90% loan when the property was purchased directly from a developer (not from a Realtor) for $400,000 three years ago.



The current market value is approximately half the purchase price, or $160,000 less than the… Continue

My Saxon Rant...

Posted on October 18, 2009 at 4:26am 6 Comments

Saxon..the Oxen of the Short sale industry.



If you have an Oxen in your field....you will be expected to feed it and protect it everyday. For these daily chores you will be ignored, pushed around and drooled upon. If you meet one of these lumbering creatures while traveling in the road, you may honk all you wish but you will not be allowed to pass...traffic will come to a grinding halt.







The lesson of trying to work with oxen is this,,they will tear up your… Continue

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At 6:43am on August 8, 2009, Wendy Rulnick said…
Hi Steve, Way cool you joined the new site! Thank you!
 
 
 

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