Lenders Loss

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Lenders Loss
Posted by Richard on January 19, 2010 at 2:54 PM
I am a California RE Broker and I have been searching to find out what the bottom line might be for lenders to accept a short sale vs foreclosure. In other words, is there a general rule of thumb as to what the maximum percentage a lender will reduce their loan amount to accept a short sale or short payoff? (20,30,40% of the current property value or of the existing loan balance?)
Thanks in advance for any and all replies.

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Comments: : I am a California RE Broker and I have been searching to find out what the bottom line might be for lenders to accept a short sale vs foreclosure. In other words, is there a general rule of thumb as to what the maximum percentage a lender will reduce their loan amount to accept a short sale or short payoff? (20,30,40% of the current property value or of the existing loan balance?) : Thanks in advance for any and all replies.

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