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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Do It Sensibly Posted by SeanW on May 19, 2003 at 5:29 PM In Reply to: JBB posted by Alan on May 19, 2003 at 1:36 PM An institutional lender of seconds in CA is probably accustomed to seeing some overbid at the foreclosure sale. They probably won't be so spooked by the process, or be willing to sell out for pennies on the dollar. A seller carryback, held by a private individual, would be more apt to take a lowball offer since he hasn't been seeing those overbid checks from the trustee. Whatever you do, you would not want the balance of the 1st + whatever you pay for the second to exceed 80% of the FMV of the house. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : An institutional lender of seconds in CA is probably accustomed to seeing some overbid at the foreclosure sale. They probably won't be so spooked by the process, or be willing to sell out for pennies on the dollar. : A seller carryback, held by a private individual, would be more apt to take a lowball offer since he hasn't been seeing those overbid checks from the trustee. : Whatever you do, you would not want the balance of the 1st + whatever you pay for the second to exceed 80% of the FMV of the house. 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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