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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] What newbies don't understand Posted by Tom on April 08, 2008 at 6:23 AM In Reply to: NTS minimum bid vs REO repo amount posted by steve on April 07, 2008 at 10:44 PM I'd disregard the $230, as the numbers don't jive. Institutions should book the REO at the AV. Of course, you've lost your opportunity to buy it at the minimum bid when you didn't buy it at the foreclosure sale. The lender has to pay taxes,possibly clean up title, and a host of other things after the foreclosure. Regulators require the writedown. For some reason newbies don't understand REOs probably because they've read or heard too much false info (which is about everything they hear). It's immaterial what value the lender is carrying it at on their books. as they try to get MV for the property. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : I'd disregard the $230, as the numbers don't jive. Institutions should book the REO at the AV. Of course, you've lost your opportunity to buy it at the minimum bid when you didn't buy it at the foreclosure sale. The lender has to pay taxes,possibly clean up title, and a host of other things after the foreclosure. Regulators require the writedown. For some reason newbies don't understand REOs probably because they've read or heard too much false info (which is about everything they hear). It's immaterial what value the lender is carrying it at on their books. as they try to get MV for the property. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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