Does anybody use REO spreadsheet to sent to their lender.
I am not sure what you are referring to. If you mean when you are doing a short sale you send a comparison spread sheet to the lender showing them their costs if the property goes to REO, I strongly recommend that you do not do this. I have been doing short sales for over 5 years and I find that the mitigators often take this the wrong way. They have all the calculations that they need and they are well aware of the costs involved in foreclosure. In some respects sending this is an insult to them.
If this is not what you mean I need some clearification.
I may actually have to send the lender such a sheet showing costs b/c they are being extremely unreasonable. The lender has completely disregarded the BPO.
I have calculated that if they foreclose on the house, they would lose $80K in verifiable direct & indirect costs. If they accept my offer, they would lose $40K. So I’m going to let them know that, b/c otherwise, they are going to foreclose. And all this is on a house that is worth about $145 - $155K max in its present condition, and an ARV of about $180K.