Loan Mod/Pricipal Reduction Public Record?

[SD Realtor]

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.

[CA renter]

[quote=Huckleberry]Because I would like to know…

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

If the principal amount is reduced, it is effectively a new sale back to themselves at at a lower price. For many buyers, this is very relevant information, as we do not want to pay more than the market price (which includes “sales” made via principal reductions).

[CA renter]

[quote=Huckleberry]Because I would like to know…

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

If the principal amount is reduced, it is effectively a new sale back to themselves at at a lower price. For many buyers, this is very relevant information, as we do not want to pay more than the market price (which includes “sales” made via principal reductions).

[CA renter]

[quote=Huckleberry]Because I would like to know…

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

If the principal amount is reduced, it is effectively a new sale back to themselves at at a lower price. For many buyers, this is very relevant information, as we do not want to pay more than the market price (which includes “sales” made via principal reductions).

[CA renter]

[quote=Huckleberry]Because I would like to know…

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

If the principal amount is reduced, it is effectively a new sale back to themselves at at a lower price. For many buyers, this is very relevant information, as we do not want to pay more than the market price (which includes “sales” made via principal reductions).

[CA renter]

[quote=Huckleberry]Because I would like to know…

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

If the principal amount is reduced, it is effectively a new sale back to themselves at at a lower price. For many buyers, this is very relevant information, as we do not want to pay more than the market price (which includes “sales” made via principal reductions).

[SD Realtor]

Huckleberry to answer your posts, no I have not seen a single appraisal that uses a loan mod or a principal reduction as a comp.

[SD Realtor]

Huckleberry to answer your posts, no I have not seen a single appraisal that uses a loan mod or a principal reduction as a comp.

[SD Realtor]

Huckleberry to answer your posts, no I have not seen a single appraisal that uses a loan mod or a principal reduction as a comp.

[SD Realtor]

Huckleberry to answer your posts, no I have not seen a single appraisal that uses a loan mod or a principal reduction as a comp.

[SD Realtor]

Huckleberry to answer your posts, no I have not seen a single appraisal that uses a loan mod or a principal reduction as a comp.

[toddt]

I am in the public records business and it’s not common for mods (including principal reductions) to record. It does happen, and it’s happening more and more, but it’s not a matter of course.

[toddt]

I am in the public records business and it’s not common for mods (including principal reductions) to record. It does happen, and it’s happening more and more, but it’s not a matter of course.

[toddt]

I am in the public records business and it’s not common for mods (including principal reductions) to record. It does happen, and it’s happening more and more, but it’s not a matter of course.

[toddt]

I am in the public records business and it’s not common for mods (including principal reductions) to record. It does happen, and it’s happening more and more, but it’s not a matter of course.

[Author]

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