--- In AsburyPark@yahoogroups.com, "radio881gal" <restore88...@...> wrote: "Seem reasonable? Maureen"
Banks are still making mortgage loans, but lending criteria has become more rigid, and appraised values are in decline. Since so many properties under contract are problematic and time consuming "short sale" transactions... often times the contract sale price is determined to be MORE than the subject property's fair market value ... and as such, the Purchaser's mortgage lender rescinds approval which requires the parties to go back to the negotiating table.... taking more time as the values continue to drop. Its a bureaucratic red tape boondoggle. BPOs are also used by mortgage pool investors performing due diligence. They'll use a local broker to perform BPOs on property secured by mortgages to help form an opinion on the portfolio's underlying Loan to Value. Although loan servicers (entity who collects month payments), on ocassion, may order BPOs on performing loans... in my opinion, it doesn't happen very often. Check out SPOCH's HomeKeeper Turnkey Program @ http://www.spoch.org/HomeKeeperProgram.asp ------------------------------------ Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) <*> To change settings via email: mailto:asburypark-dig...@yahoogroups.com mailto:asburypark-fullfeatu...@yahoogroups.com <*> To unsubscribe from this group, send an email to: asburypark-unsubscr...@yahoogroups.com <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
