Hi All,
I am working on a 2nd SS while my first is with the lender. 
HEre are the facts. in FL Countrywide is the first and owed $106K,
Suntrust is the 2nd(line of credit) owed $ 70k.
total $180k
comps show $120k
Holding Costs - 9k
Repairs - 11k
RE commisions 5% if HO needed listing - 6k
Closing Costs 2% - 2.5k
Profit 10%( my mentor said make sure -12k
this was present to show
bank what we will make)
Net Suntrust if Countrywide approve 1k
Net to Countrywide if they allow $1k to Suntrust $79k
How easy is it to work with Suntrust? I know countrywide may take a small discount. Anybody think they will take $1k( of course that is just the starting offer). I did talk to suntrust directly, the gatekeeper stated that her boss makes the decisions whether or not they will protect their interest.
I sent a mini ss package to them with the offer a week ago. Should I try to contact them or let them stew for a few more weeks? Right Now I am waiting for the HO to complete the Counseling certification next week. THen I can finish putting togehter the SS package to Countrywide and tell them that SUntrust wont deal