Posted by jimi on February 20, 2009 at 13:14:52:
interesting, do you know the name of the lender?
Some Lenders Getting Smart - Posted by Rich-CA
Posted by Rich-CA on February 19, 2009 at 17:01:47:
Had some friends looking at newer (2006) houses that were lender owned over the last weekend. All of these houses are in move-in ready condition. According to our friends, the lender offered the former homeowner $4,000 if they moved out by a certain date and the house was in move in condition. Apparently a couple dozen houses in this area were repossessed without either the foreclosure or the horrid condition that is all too common in the foreclosures I have seen. Has anyone else seen this kind of genuine “loss mitigation” going on?
been going on… - Posted by lukeNC
Posted by lukeNC on February 21, 2009 at 11:36:21:
for a few years…
I once had a lender offer the occupants $5k to leave the house in good condition. It was actually part of a short sale deal…they got $5k back, I made around $4k and all was well…I notice them alot on the higher end homes.
Smart move…i’d say.
Re: Some Lenders Getting Smart - Posted by Rob FL
Posted by Rob FL on February 20, 2009 at 17:04:35:
When I work with REO properties we often offer cash for keys if people will move out peacefully. Some of the unsuccessful short sales we deal with, we end up negotiating a deed in lieu and the homeowner does get offered money in exchange for signing the deed and moveing out as scheduled.
Re: Some Lenders Getting Smart - Posted by jimi
Posted by jimi on February 20, 2009 at 04:01:45:
Yep, usually it’s from the bulk delinquent note buyers like Litton or Ocwen.
In this case - Posted by Rich-CA
Posted by Rich-CA on February 20, 2009 at 09:12:10:
our friends were told that the lender made the offers to the home owners themselves prior to any actual foreclosure action.