I'm having difficulty with a SPS short sale. They ordered a BPO in September - Drive by - Came back at $280,000.
Got offer in and appraisal done. Appraisal came in at $195,000 and offer was $190,000
SPS ordered NEW INTERIOR BPO and that came in at $220,000. Initially they would not budge from the $280,000 offer even though the interior BPO came in at $220,000. My buyers don't want to go up much more as they got a work estimate in excess of $100,000. The property is a mess. It has encroachment issues, no parking, a water line that feeds the REO next door...it's a nightmare.
I'm actually shocked they didn't take the $190,000 offer, with all the issues. The buyers don't want to go up and SPS reset a foreclosure date for Jan 21.
My thought is to try the investor next. I'm reading the packet and this is how it reads:
..of which mortgage Deutche Bank National Trust as indenture trustee on behalf of the holders of the Accredited Mortgage Loan Trust 2007-1 Asset backed notes is the present holder.
So I'm at a loss. The way I'm reading this Accedited Mortgage Loan trust is teh investor. How the HECK do I contact them? Or do I start with Deutche?
Tags:
Thanks Jim.
I will do that. I appreciate the advice.
Jim Schneider said:
Smitty,
I'd send a qualified written request to both sbc and Deutche, deutche's info is in that group, send to the Santa Ana branch.branch. When you identify the investor, send buyer's appraisal, repair estimates, and your own bpo to investors
Smitty,
please note that I found more updated information on Deutche bank. See that group.
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