Replies to This Discussion

Permalink Reply by Ben Benita on October 3, 2011 at 12:56am

1  -find out who the Investor is on the loan, contact THEM directly

and

2 - Find out if there is mortgage insurance - if yes, see what the "coverage ratios" are.

and

3 - the BPO agent - get his/her name, see how many foreclosure/REO listings they have in the area

 

Best of luck....you can contact me off here at [email protected] if you have specific questions on the above.

Permalink Reply by Gordon K on November 29, 2011 at 5:17am

I have encountered the same problem. Contract offer of $150,000, FMV reflects close to this, BPO came in at a ridiculous $215,000 and I was told the same "Our counter is $215,000, you will need to match this".

 

The first negotiator was awful. Short tempered, rude, closed the file out multiple times for absurd reasons. I have tried to contact the supervisor multiple times, no returned calls. I have had the file reopened and have sent in the new offer of $160,000 with CMA reflecting this as being fair. Exact same 3/2 with identical sq ft sold for $160,000 in 2007.

 

Has anyone found any tips for dealing with EMC?