- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Real Estate Question: Haggling a Foreclosure
Posted on 11/20/14 at 5:22 pm to DivotBreath
Posted on 11/20/14 at 5:22 pm to DivotBreath
quote:
Additionally, the concept of the bank getting the money lost back from another source is news to me,
So you are telling me that when a Bank hands over an REO property to a management firm like Safegaurd, MCS, Five Brothers, etc that the banks do not get money for maintenance and repairs back from HUD?
LINK
You are also stating that on FHA and VA insured loans the banks lose money on them?
2
Posted on 11/20/14 at 6:44 pm to stout
If I could get it for 400k, I'd be very happy......
Posted on 11/20/14 at 9:18 pm to stout
quote:
quote: Additionally, the concept of the bank getting the money lost back from another source is news to me, So you are telling me that when a Bank hands over an REO property to a management firm like Safegaurd, MCS, Five Brothers, etc that the banks do not get money for maintenance and repairs back from HUD? LINK You are also stating that on FHA and VA insured loans the banks lose money on them?
No, but I also am not making assumptions and generalizations about the property the OP is referring to in his question. Not all ORE property is turned over to a management company and not all will qualify for reimbursement of expenses or losses. To argue that every loan loss is just a matter of creative bookkeeping on behalf of the bank is just incorrect.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News