"
When it seems that the servicer will not accept a SS or modication regardless of how much you think it makes sense for them to do so has to do with the original PSA agreement ( Pool Servicing Agreement ).
If it has a restriction a SS…"
berry.bowen's Discussions
EMC (Chase) - BPO came in at 119k - But they will only accept an offer of 218k
Started this discussion. Last reply by P Nicolas Velecico Sep 9, 2011. 15 Replies 0 Likes
Can someone explain this to me?I have a seller whose going through a short sell with EMCEMC ordered a BPO and that value came in at 119My client had an apprasial completed value 115k EMC says they…Continue
berry.bowen's Page
Latest Activity
cat gellatly replied to berry.bowen's discussion EMC (Chase) - BPO came in at 119k - But they will only accept an offer of 218k"So don't leave us in suspense. What happened, did the president's office step up to the plate? I was told that EMC lost their servicing contract with Chase and since that happened they just don't seem to care. They were one of the…"
Ray Snook replied to berry.bowen's discussion EMC (Chase) - BPO came in at 119k - But they will only accept an offer of 218k"Sometimes this happens. You don't mention what the loan amount is, and that can have a bearing on how much the investor will be prepared to accept minimum. If the investor has MI covering the loan then they may net more in a foreclosure than in…"
Jake Jacoby replied to berry.bowen's discussion EMC (Chase) - BPO came in at 119k - But they will only accept an offer of 218k"Have you requested all of the loan docs with the intention of a Forensic loan audit?
"
berry.bowen replied to berry.bowen's discussion EMC (Chase) - BPO came in at 119k - But they will only accept an offer of 218k"thanks.. it makes no sense to me at all
i've went to the "executive office" waste of time it seems
but i was able to get the direct number to the EMC Short Sale presidents office. So I will see how that works out…"
"It does not make any sense to me. Have you tried to escalate this?"
Alejandro J Morin replied to berry.bowen's discussion EMC (Chase) - BPO came in at 119k - But they will only accept an offer of 218k"Please try to determine on FNMA and FREDDIE MAC websites if the loan is theirs, or not. Many times a lender's representative will not be upfront and tell you who the investor is if they have authority as the servicer to make decisions. Then,…"
Catherine Smith replied to berry.bowen's discussion EMC (Chase) - BPO came in at 119k - But they will only accept an offer of 218k"This file may be one that they want to foreclose on because they would make more money doing that. Not in a retail sense. Wells Fargo is also one of those banks notorious for foreclosing."
Ellen Levy replied to berry.bowen's discussion EMC (Chase) - BPO came in at 119k - But they will only accept an offer of 218k"I am having a similar problem with Chase. My BPO says $150K. Their appraiser said $225K. I have had four offers in 306 days, all around $140K. The seller has signed an ofer for $144,500. Chase may go ahead and…"
berry.bowen replied to berry.bowen's discussion EMC (Chase) - BPO came in at 119k - But they will only accept an offer of 218k"Wells Fargo is the investor"
Jeff Payne replied to berry.bowen's discussion EMC (Chase) - BPO came in at 119k - But they will only accept an offer of 218k"Who is the investor on this loan?"
berry.bowen replied to berry.bowen's discussion EMC (Chase) - BPO came in at 119k - But they will only accept an offer of 218k"yes and everyone is telling there is nothing they can do etc..
the apprasial was submitted with proof 2 homes on the same street with are comps sold for less than 130k and those homes were much nicer than this current one"
Jason Opland replied to berry.bowen's discussion EMC (Chase) - BPO came in at 119k - But they will only accept an offer of 218k"Has the appraisal for $115,000 been submitted to the bank? If so have you spoken to a manager or the executive offices at the bank?"
berry.bowen replied to berry.bowen's discussion EMC (Chase) - BPO came in at 119k - But they will only accept an offer of 218k"Well the BPO order by EMC came back at 119k
My sellers had an independent appraisal completed which came back at 115k
EMC will not accept anything less than 218k"
Richard replied to berry.bowen's discussion EMC (Chase) - BPO came in at 119k - But they will only accept an offer of 218k"Berry,
Please excuse me, as I'm little confused. I may be wrong but I think the real pros here (not myself) may need a little more information and clarification. Your subject line say the BPO is estimated the home at…"
berry.bowen posted a discussionEMC (Chase) - BPO came in at 119k - But they will only accept an offer of 218k
Can someone explain this to me?I have a seller whose going through a short sell with EMCEMC ordered a BPO and that value came in at 119My client had an apprasial completed value 115k EMC says they will not accept anything less than 218,000 Does this make sense? Can someone explain this to me? EMC reps will not explain why or how they got that 218k valueSee More
Profile Information
- First Name
- BERRY
- Last Name
- BOWEN
- State
- GA
- City
- douglasville
Comment Wall
- No comments yet!
Members
CONTACT US
SITE FOUNDERS
MODERATOR
This site is owned and operated by REGrow, LLC
Wendy Rulnick and
Brokers of Record
A Licensed Florida Real Estate Brokerage
628 Grand Canal Dr
Poinciana FL 34759
407-873-2747
Badge
© 2012 Created by Bryant Tutas.
like buttons