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Updated over 12 years ago,
FDIC limits the banks?
I recently had a real estate agent inform me that FDIC had required a bank to set the asking price for the property at the loan value and not the actual property value.
Basically the 1 acre lot andmobile home is worth right at $8,000 but they were unable to accept any offer below $17,000.
Is the FDIC getting involved in the property value floating? or is this a special case where a bank is distressed and the FDIC is exerting its influence?