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This topic contains 8 replies, has 0 voices, and was last updated by Avatar of marlac marlac 11 years, 4 months ago.

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  • #4909
    Avatar of marlac
    marlac
    Member

    … about why lenders would be willing to drastically discount loans. In the discussion, Bill talked about looking at it from the lenders’ point of view and how they determine how much they can discount. If anyone remembers the thread, thanks in advance for pointing me to it.

    Marla (network member)

    #26139
    Avatar of areyes
    areyes
    Member

    overall is about 82% based on loss mitigators approving short sales. you can work to get it less of course.

    #26140
    Avatar of marlac
    marlac
    Member

    Thanks for your response, Alvin. I was looking for something else, though.

    Bill talked about why a lender would take drastically less. As I recall, there was something about how quickly they make back their “investment” and could, therefore, make a big cut. Anyone remember this one? I was quite awhile ago.

    Re: the 82% figure … I think things are changing in some areas. A Riverside County REO built in 2003 that sold for over $300K in 2005 was just purchased by a client of one of my partners for $149K.

    Rgds,
    Marla

    #26141
    Avatar of homesavers
    NULL
    Member

    It sure is a good day to have CASH $$$

    #26142
    Avatar of areyes
    areyes
    Member

    no problem. the 82% was for short sales. REO is a different game where you can get them under 50 cents on the dollar.

    search function is your best friend.

    @marlac wrote:

    Thanks for your response, Alvin. I was looking for something else, though.

    Bill talked about why a lender would take drastically less. As I recall, there was something about how quickly they make back their “investment” and could, therefore, make a big cut. Anyone remember this one? I was quite awhile ago.

    Re: the 82% figure … I think things are changing in some areas. A Riverside County REO built in 2003 that sold for over $300K in 2005 was just purchased by a client of one of my partners for $149K.

    Rgds,
    Marla

    #26143
    Avatar of marlac
    marlac
    Member

    @homesavers wrote:

    It sure is a good day to have CASH $$$

    Yeah, I could have bought that one, myself, but I already have waaaay too much invested in Riverside County … and not at today’s prices. sigh.

    Marla

    #26144

    Well, that price is from 2005, which is getting it closer to what a genuine comp might be, for today. 2004, to be sure.

    The $149 K is 50% of that $300 K, if the place is in Loanable condition and hasn’t been Beat to Hell.

    I’ve got Cash for that, Donald, and room for Maria on something like that, without having to own with her own loan.

    I understand the “over-invested” in an area part and the “over-invested” in certain types of properties, for your portfolio.

    However, I’d watch a monkey make love to a football, for 50% on an REO or Short Sale that will comp out.

    There is room at the Inn.

    And, room for Alvin, too, if it wasn’t for his “Money is No Object” Financially Independence. :shock: :lol: :wink:

    #26145
    Avatar of joecain
    joecain
    Member

    Hi Marla -

    Good to see you on the Board today. I seem to remember a post similar to that which you refer, and I will Search as I suggest you do. Off the top of my head, I do not know where it exists, but someone out there in the ether might even have the link you are looking for.

    Meanwhile, you may have given to me the best laugh I have had all week. Has no one else noticed where, exactly, Marla is spending the Summer?

    marlac
    Posts: 11
    Location: In Yuma, AZ for the Summer

    Thank you. Thank you. A thousand thank yous!!

    :lol: :lol: :lol: :lol:

    #26146
    Avatar of marlac
    marlac
    Member

    Joe, I’m always happy to make you chuckle. ;^) Interestingly enough, one of the local network feeds we get in the RV from DirecTV is the LA feed, so, I see you’ve been having almost the same weather we have. so, keh, keh, keh to you, my friend!

    I have been “searching” for the post, but it’s been slow going. Our usual, fairly high-speed net access via a sprint card is extremely slow in Yuma, which makes the search pretty laborious. Shall I admit defeat and ask Uncle Bill to readdress the topic? ;^)

    Marla

    #26147
    Avatar of joecain
    joecain
    Member

    Sorry you are experiencing slow connection down there in the desert. Most everything was pretty slow in Yuma the last couple of times I visited. I know we joked a few months ago about you “vacationing” down in the southern desert during the hottest part of the year, and it really was funny to see it in print on the Board. ( lol )

    If you need a response today from Bill, please email or call in and Steve will attempt to connect you with the Big Fella. Otherwise, I would recommend a bit of patience. In my experience with the nice folks who visit here, there almost routinely is somebody out there in the ether who has either cataloged every post by Bill or posts in general by subject. Give it a bit of time and I am sure you will get a response.

    Have fun. Stay cool.

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