my husband passed 7months. We were doing loan mod. but now forclosed on. in mo. 1st offer is 6weeks and 1500. can i get more? Really need help.

Asked by Needhelp, Saint Louis County, MO Wed Apr 13, 2011

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Emily Knell’s answer
Emily Knell, Agent, Huntington Beach, CA
Wed Apr 13, 2011
The asset manager for the bank is going off of whatever they feel is fair market value rent for your house. I suggest contacting a Realtor in your area & ask them "What do you think fair market rent is for my house? You never know unless you simply ask the bank/asset manager & if you have some rental data see if $1500 is fair.

I agree with the other answer that if you can move quicker they may pay you more.

I am always curious to know & if you can email me with an answer that would be great. I promise I won't Spam you back or anything, but why did you not list the house for sale or do a short sale? Why did you let the bank take it all the way to an auction or did you do a deed in lieu & if that's the case, why a deed in lieu?
562-430-3053 cell
Realtor Since 1996
Distressed Property Specialist
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Michael Emery, , Minneapolis, MN
Wed Apr 13, 2011
I presume you are talking about 'cash for keys' where the lender offers you money to move.

It's been my limited experience that they will offer you more money only if you are able and willing to move more quickly. Sometimes they will say $xxxx of dollars if you move in 14 days and $xxxx less if you move in 30 days.My guess is $1,500 is their limit. And remember, they don't have to pay you a dime.
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