Need help with lender justification letter!

I’m doing a SS with HomEq and am doing a ‘last ditch effort’ letter to point out why they should accept my offer, instead of letting the house go to auction! So if anyone can provide items and values, many of us can use them!

  • Missed additional monthly payments because of foreclosure -$1800 x 4
  • Attorney fees -$1000
  • Trustee fees 5%(?) -$8000
  • Real estate commission if sold REO -$9000
  • ?
  • ?

Need more info. BPO? What do your numbers tell you? Leins?

A BPO is nice but if you don’t have one I make a clear effort to tell the bank how much in repairs that it needs,Take pics of the bad parts even if it’s the house next to it(LOL) make it high but reasonable. add that to the sum of all those fees in BOLD, I use 25k for a foreclosure cost, then how soon you can close on your CASH offer and for far less aggravation.
and remember- SwSwSw NEXT!


Thanks for the input!
The details are as follows: As is BPO is $160k, ARV BPO is $190k-$200k, borrower owes $170k. I offered $112k cash and was told by HomEq if I wanted the house I could buy it at auction!
Please respond with any other ideas!

Take another look at the case you are making for the amount you are offering. Chances are, you could refine your package and make a stronger case for the 112K cash offer.

Continue to engage them, as the auction date gets closer, they may be more willing to play ball with you. On the other hand, if they continue to play hardball, you may just need to go to the auction – you might just get a better deal given the CASH you have…