Answers (6)
- Linda Strasberg, "L Strasberg"
- Contributions:2563
NVchaz:
"Using specific approved applicants, ask how the institution determined that they differed from the denied applicants."
"Using specific approved applicants, ask how the institution determined that they differed from the denied applicants."
Linda,
This is a big booklet. Can you point me to the page regarding the topic?
This is a big booklet. Can you point me to the page regarding the topic?
- Linda Strasberg, "L Strasberg"
- Contributions:2563
Don't know about short sales but it works with REOs. Of the 12 offers I made only 2 were accepted - both were Wells Fargo owned and I am qualified with Wells Fargo.
They obviously love it when they get both sides of the business. I'm working with the loan officer now to see if I can squeeze any more out of them, (i.e. move my checking account over to them, etc.)
They obviously love it when they get both sides of the business. I'm working with the loan officer now to see if I can squeeze any more out of them, (i.e. move my checking account over to them, etc.)
- dmkhern
- Contributions:17
I realize that I am not required to finance with the lender carrying the note...I do wonder if I did, would that make make my offer more appealing to the lender or would it at least expedite the process?
Also, for everything I've read here and elsewhere, majority of individuals seem to agree that lenders' guidelines usually see an offer of 85% or above of BPO as favorable. Do you have a different experience?
Thanks
Also, for everything I've read here and elsewhere, majority of individuals seem to agree that lenders' guidelines usually see an offer of 85% or above of BPO as favorable. Do you have a different experience?
Thanks
- Linda Strasberg, "L Strasberg"
- Contributions:2563
There is no requirement to finance with the lender who is carrying the note on the pre-existing loan. Once your offer is accepted you may choose who you select. The reason for the delayed response from the bank is most likely because of your 90% of BPO offer.
Financing with lending institution that holds short-sale
Thanks
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