Hi again. I am working with an investor to short sale my house, and we had the BPO come in at $195K, (We bought the home when the value was much higher. I currently owe $227K, no liens or 2nd, house needs a lot of repairs, market very slow here, etc) and I know that each case is different, but I was wondering if anyone knew how strict Homecomings are as far as discounts go? The original offer was $130K and the investor knew he would need to offer more, but I’m very worried that the lender won’t drop to where the investor will make a profit. I have to get out of this house so bad and my credit is quickly going down the drain as I can’t afford the payments anymore due to various circumstances beyond my control. Any input would be appreciated.
Moo.