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Author Topic: lender's loss limits  (Read 1343 times)

Offline Doghouse

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lender's loss limits
« on: August 15, 2006, 02:50:20 pm »
Iíve only dealt with foreclosures and pre-foreclosures. Iím curious about one item when dealing short sales. How much is the lender willing to actually lose in a short sale?  Iím sure they treat them all differently, but is there a percentage they use as a guideline when negotiating?

Offline turborocket

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Re:lender's loss limits
« Reply #1 on: August 28, 2006, 12:09:03 am »
I don't know the inner secrets of any guidelines, but I think there are too many factors to list.  The obvious factors are the comps/property value, condition of the property, other liens, the investor's guidelines, whether PMI/MIP is a factor, etc.  The less obvious ones can be how the lender is performing as a whole with regards to the OCC, whether the HO has been easy for the lender to work with or whether the HO has been a total PITA, and other obscure factors.  Then, factor in that there are thousands of lenders out there... No set guidelines.  Just use common sense.  
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