InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Store Foreclosure Codes 50 State Resource Data Foreclosure Glossary Foreclosure Statistics 60+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Lender's choice... Posted by Sean, N.C. on March 19, 2004 at 9:46 PM In Reply to: Re: Lender's choice... posted by Martin on March 19, 2004 at 12:17 AM : Is there anyway to know what the lenders' minimum bid will be, prior to the auction? You can make a reasonable guess, based on what kind of property it is, what's owed on it, and what's going on in your market. But banks don't do things consistently, and a large bank will have several V.P.'s processing the foreclosures. They may be less familiar with the property than you are, and who knows what they'll do? Best thing is to use Ward's formula for determining the maximum possible lender bid. Assume that's what it will be... but attend the auction anyway just in case the lender backs off. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : Is there anyway to know what the lenders' minimum bid will be, prior to the auction? : You can make a reasonable guess, based on what kind of property it is, what's owed on it, and what's going on in your market. : But banks don't do things consistently, and a large bank will have several V.P.'s processing the foreclosures. They may be less familiar with the property than you are, and who knows what they'll do? : Best thing is to use Ward's formula for determining the maximum possible lender bid. Assume that's what it will be... but attend the auction anyway just in case the lender backs off. 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

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-2004, InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455