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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Or to put it another way.... Posted by SeanW on April 19, 2003 at 5:25 PM In Reply to: another question posted by Rick Spring on April 19, 2003 at 4:55 PM If you heard informally that the opening bid as around 2/3 of fair value, that could be true in most cases. People generally have 30 year mortgages, and it takes several years before the balance of the loan drops much. When a foreclosure is for the deed of trust (mortgage), the opening bid also includes missed payments, interest, penalties, and trustees fees. So add all that together an you could often get a value around 2/3 of the fair market value of the house. But I still would be surprised if the opening bid is based on an appraisal. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : If you heard informally that the opening bid as around 2/3 of fair value, that could be true in most cases. : People generally have 30 year mortgages, and it takes several years before the balance of the loan drops much. When a foreclosure is for the deed of trust (mortgage), the opening bid also includes missed payments, interest, penalties, and trustees fees. So add all that together an you could often get a value around 2/3 of the fair market value of the house. : But I still would be surprised if the opening bid is based on an appraisal. Optional Link URL: Link Title: Optional Image URL: [ 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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