"that is their number" 461 is their net, or 461 is the purchase price? I have gone round and round on "what does that number mean" with many Loss Mit reps. if the BPO comes in at 461, then they can only expect that someone would offer 461 on a purchase and sales contract. 461 minus sellers closing costs (realtor commission, late taxes, doc stamps, etc) is a lot different than 461 net.
Pre FORECLOSURE/COLLECTIONs: Courtesy reminder calls usually after first or second late or missed payment, followed by late notices, threats implying foreclosure
Letter of Intent to FORECLOSE: Written notice giving Borrower 30 days to cure default and avoid further legal action
Sheriff authorized (Writ of Execution) to conduct public sale
SHERIFF’S SALE: Sheriff advertises sale in local papers. Highest bidder is awarded your HOUSE
ROR (Right of Redemption): Former homeowner has 10 days to "redeem" and buy back the house paying all amounts due including the entire mortgage(s) balance, foreclosure costs, etc.
Try (877) 926-8937
"that is their number" 461 is their net, or 461 is the purchase price? I have gone round and round on "what does that number mean" with many Loss Mit reps. if the BPO comes in at 461, then they can only expect that someone would offer 461 on a purchase and sales contract. 461 minus sellers closing costs (realtor commission, late taxes, doc stamps, etc) is a lot different than 461 net.
Brenda
The New Jersey Foreclosure Process
Pre FORECLOSURE/COLLECTIONs: Courtesy reminder calls usually after first or second late or missed payment, followed by late notices, threats implying foreclosure
Letter of Intent to FORECLOSE: Written notice giving Borrower 30 days to cure default and avoid further legal action
FORECLOSURE: Lender files lawsuit in FORECLOSURE
Lender seeks and is awarded final judgment
Sheriff authorized (Writ of Execution) to conduct public sale
SHERIFF’S SALE: Sheriff advertises sale in local papers. Highest bidder is awarded your HOUSE
ROR (Right of Redemption): Former homeowner has 10 days to "redeem" and buy back the house paying all amounts due including the entire mortgage(s) balance, foreclosure costs, etc.
Thank you TheShortsalePro. I was suprised to see ROR is only 10 days but it sounds good to me.
Once again thank you for the explanation as michael reaches his hand out to offer a friendly hand shake
michael