As Sam Parkins said, the attorney will be the best one to answer those questions.

Thanks,Sam

Originally posted by Sam Leon:I kept hearing people saying when in a REO situation, if the bank came back with a "HIGHEST AND BEST OFFER IN 24 HOURS",I have read this to mean that they did not receive offers high enough to meet their "minimum acceptable bid" and they are asking the ones who submitted bids to re-offer with their highest bid based on the assumption that their first offer was low balled.

Hi Sam,In the business we call these in "pre-list" stage as a broker/agent.Banks will either list REO directly with listing brokers or have asset management companies they contract out with that the bank gives their assets to for disposing and selling in the marketplace.They give the asset company full reign usually going by what is in the banks servicing agreement as part of the contract to handle the disposition of the assets.

Sam Parkins LOLFran Flanagan Shhh, don't let them know we found a loophole.

I had no problem doing the refi and just like Sam Leon they sold it back to Seterus after one payment.

The usual misunderstanding from street level investors is that "bulk" or "pool" also implies some significant discount, like Sam's Club.

Even $1 in interest is more than you are earning by giving it to Uncle Sam to use.

Sam, if your offer had a 72-hour deadline for acceptance and they exceeded it, they probably assume you don't need notice that they didn't accept it.

Good point Sam, but with just a little more effort many of those hand-up folk could probably skip the MH and move into a conventional home, lots of non-profit housing entities and low/mod income programs.