You mixed up market price and auction price with existing loan

来源: planotx 于 2011-01-05 08:58:11 [档案] [旧帖] [给我悄悄话] 阅读数 : 0 (564 bytes)

回答: 关于Foreclosure Auction的疑惑，上个帖子每回答就被淹了由 bumbumbum 于 2011-01-05 08:21:41

When Bank foreclose a property, they do not necessary recop the loan. So the acceptable foreclose price is less impected by loan amount. It has to do the condition of the property, market price, regulation on booking the loss, maintainence cost, company policy for acceptable loss... In most part, the local agent who handles the property has huge influrence on the price. (This is where you can get good deal from insider.)

If the loan is FHA backed loan, bank can sell it to FHA and book the loss.

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• Thanks for the reply, but.. -bumbumbum- ♂ (465 bytes) () 01/05/2011 postreply 13:54:17

• most foreclosue properties are unsold at auction due to the risk -planotx- ♂ (926 bytes) () 01/05/2011 postreply 17:13:29

• Thanks! can you please check your QQH? -bumbumbum- ♂ (0 bytes) () 01/06/2011 postreply 10:54:25

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