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  • February 19, 2008 at 4:16 PM #11866
    donaldduckmoore
    Participant

    Dear all, will REO properties usually delay on closing date? If so, how much further beyond the closing date they first mentioned? Any feedbacks welcome?

    February 19, 2008 at 5:22 PM #155844
    robyns_song
    Participant

    Usually they try to get the closing done before the end of the month and would prefer an earlier closing. Closings may be delayed if the LTV (loss to value) ratio is such that they need approval from the investor or if they are waiting on the trustee’s deed to be recorded, etc.

    February 19, 2008 at 5:22 PM #156129
    robyns_song
    Participant

    Usually they try to get the closing done before the end of the month and would prefer an earlier closing. Closings may be delayed if the LTV (loss to value) ratio is such that they need approval from the investor or if they are waiting on the trustee’s deed to be recorded, etc.

    February 19, 2008 at 5:22 PM #156132
    robyns_song
    Participant

    Usually they try to get the closing done before the end of the month and would prefer an earlier closing. Closings may be delayed if the LTV (loss to value) ratio is such that they need approval from the investor or if they are waiting on the trustee’s deed to be recorded, etc.

    February 19, 2008 at 5:22 PM #156149
    robyns_song
    Participant

    Usually they try to get the closing done before the end of the month and would prefer an earlier closing. Closings may be delayed if the LTV (loss to value) ratio is such that they need approval from the investor or if they are waiting on the trustee’s deed to be recorded, etc.

    February 19, 2008 at 5:22 PM #156225
    robyns_song
    Participant

    Usually they try to get the closing done before the end of the month and would prefer an earlier closing. Closings may be delayed if the LTV (loss to value) ratio is such that they need approval from the investor or if they are waiting on the trustee’s deed to be recorded, etc.

    February 19, 2008 at 5:50 PM #155850
    donaldduckmoore
    Participant

    Thanks for your feedback. Who are the investors?

    February 19, 2008 at 5:50 PM #156134
    donaldduckmoore
    Participant

    Thanks for your feedback. Who are the investors?

    February 19, 2008 at 5:50 PM #156137
    donaldduckmoore
    Participant

    Thanks for your feedback. Who are the investors?

    February 19, 2008 at 5:50 PM #156155
    donaldduckmoore
    Participant

    Thanks for your feedback. Who are the investors?

    February 19, 2008 at 5:50 PM #156228
    donaldduckmoore
    Participant

    Thanks for your feedback. Who are the investors?

    February 19, 2008 at 6:03 PM #155870
    vizcaya
    Participant

    I bought a Countrywide foreclosure, and the bank had me agree that if the escrow did not close within 30 days, I would pay 1 tenth of 1 percent per day of the sales price if the home did not close on time or sooner.

    These banks want these properties off thier books fast.

    February 19, 2008 at 6:03 PM #156154
    vizcaya
    Participant

    I bought a Countrywide foreclosure, and the bank had me agree that if the escrow did not close within 30 days, I would pay 1 tenth of 1 percent per day of the sales price if the home did not close on time or sooner.

    These banks want these properties off thier books fast.

    February 19, 2008 at 6:03 PM #156157
    vizcaya
    Participant

    I bought a Countrywide foreclosure, and the bank had me agree that if the escrow did not close within 30 days, I would pay 1 tenth of 1 percent per day of the sales price if the home did not close on time or sooner.

    These banks want these properties off thier books fast.

    February 19, 2008 at 6:03 PM #156175
    vizcaya
    Participant

    I bought a Countrywide foreclosure, and the bank had me agree that if the escrow did not close within 30 days, I would pay 1 tenth of 1 percent per day of the sales price if the home did not close on time or sooner.

    These banks want these properties off thier books fast.

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