Loan Mod/Pricipal Reduction Public Record? – Piggington's Econo-Almanac

This topic has 50 replies, 8 voices, and was last updated 14 years, 11 months ago by UCGal.

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May 9, 2010 at 10:13 AM #17436

Huckleberry
Participant

Have we Piggs come to a consensus or know for fact if the principal reductions are being recorded publicly and used as comps?

I really want to know if I’m purchasing a house from someone that got a principal reduction a couple months prior to my purchase.

May 9, 2010 at 10:24 AM #548388

DataAgent
Participant

“Mortgage amount” and “property valuation” are not related. Why would you care if the current owner received a loan mod or principal reduction?

May 9, 2010 at 10:24 AM #548499

DataAgent
Participant

“Mortgage amount” and “property valuation” are not related. Why would you care if the current owner received a loan mod or principal reduction?

May 9, 2010 at 10:24 AM #549357

DataAgent
Participant

“Mortgage amount” and “property valuation” are not related. Why would you care if the current owner received a loan mod or principal reduction?

May 9, 2010 at 10:24 AM #549080

DataAgent
Participant

“Mortgage amount” and “property valuation” are not related. Why would you care if the current owner received a loan mod or principal reduction?

May 9, 2010 at 10:24 AM #548981

DataAgent
Participant

“Mortgage amount” and “property valuation” are not related. Why would you care if the current owner received a loan mod or principal reduction?

May 9, 2010 at 10:39 AM #548393

Huckleberry
Participant

Because I would like to know…

And yes, I realize mortgage amount” and “property valuation” are not related.

May 9, 2010 at 10:39 AM #548504

Huckleberry
Participant

Because I would like to know…

And yes, I realize mortgage amount” and “property valuation” are not related.

May 9, 2010 at 10:39 AM #549362

Huckleberry
Participant

Because I would like to know…

And yes, I realize mortgage amount” and “property valuation” are not related.

May 9, 2010 at 10:39 AM #549085

Huckleberry
Participant

Because I would like to know…

And yes, I realize mortgage amount” and “property valuation” are not related.

May 9, 2010 at 10:39 AM #548986

Huckleberry
Participant

Because I would like to know…

And yes, I realize mortgage amount” and “property valuation” are not related.

May 9, 2010 at 5:43 PM #549152

SD Realtor
Participant

I think it is very important that mods and principal reductions be recorded. If I were buying a home and there were only 3 sold comps in the past year in the area but 12 loans that had reductions in principal much lower then the sold comps to me that would be a red flag.

Maybe I will coin the term, shadow comp killers.

May 9, 2010 at 5:43 PM #549529

SD Realtor
Participant

I think it is very important that mods and principal reductions be recorded. If I were buying a home and there were only 3 sold comps in the past year in the area but 12 loans that had reductions in principal much lower then the sold comps to me that would be a red flag.

Maybe I will coin the term, shadow comp killers.

May 9, 2010 at 5:43 PM #549251

SD Realtor
Participant

I think it is very important that mods and principal reductions be recorded. If I were buying a home and there were only 3 sold comps in the past year in the area but 12 loans that had reductions in principal much lower then the sold comps to me that would be a red flag.

Maybe I will coin the term, shadow comp killers.

May 9, 2010 at 5:43 PM #548557

SD Realtor
Participant

I think it is very important that mods and principal reductions be recorded. If I were buying a home and there were only 3 sold comps in the past year in the area but 12 loans that had reductions in principal much lower then the sold comps to me that would be a red flag.

Maybe I will coin the term, shadow comp killers.
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