Another reason why a home goes into Foreclosure.

That Reason is the clueless BPO. This week I was so upset at this clueless guy who did the bpo on one of my Short-Sale listings. He came up with almost $50,000 over the market price. Is he trying to tell the bank that the comps in the area are high so my listing goes into foreclosure, then this clueless bpo can get the foreclosure listing, instead of helping a distress homeowner?  He does not know how homes are selling in this area, how's the bank chosing these bpo's? Now, we are working harder with the bank to dispute the price on my Short Sale listing. We have sent the right comprables to the bank, and of course, it will take another two weeks before we hear from the bank again, in addition to the months we have waited from the bank to accept the short sale process of my client's home.

  • May 19 2010 - Chicago
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Answers (2)

Do you have a Realtor or are you representing yourself? Just continue to contact your lender at least twice a week.
  • June 11 2010
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Profile picture for Matt Laricy
Yup, sounds pretty typical. These banks keep getting worse and worse.
  • June 11 2010
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