I inferred the question to be how to approach a foreclosing lender with the idea of permitting a refinance of a foreclosed mortgage... with another lender. Since the existing mortgage was a high LTV (maybe 90%, 95% or 100% or more) it would have to discount to facilitate a new loan from another lender.
I am interested on short refis as well. Any advice on the process, tips, & tricks would be appreciated. Thanks
I inferred the question to be how to approach a foreclosing lender with the idea of permitting a refinance of a foreclosed mortgage... with another lender. Since the existing mortgage was a high LTV (maybe 90%, 95% or 100% or more) it would have to discount to facilitate a new loan from another lender.
Good point, ShortSalePro. I was looking at it as a completely different scenario.
: )