I am curious what tactics your hard or private money lender uses to arrive at a value in which they are willing to loan.  

It took a few weeks for the hard file to arrive from NAA, Harbour's servicing entitiy.I boarded the loan at FCI and hired a local experienced attorney to start the foreclosure process.

I am curious what tactics your hard or private money lender uses to arrive at a value in which they are willing to loan.Do they use a 3rd party appraiser?

The seller's response arrived, albeit 2 days late, but it is here so I'm thrilled. 

That is completely reasonable and understandable.In this case we were led to believe (told explicitly) they were seeking court approval but in reality delayed that submission until multiple offers arrived.

Shouldn't rates have started skyrocketing a few years before the crash with all the crazy mortgages, and if that had happened that alone might have damped down too much overborrowing.

Account ClosedI might make a suggestion when I was starting out I was taught the followingWhen trying to arrive at an offer price adjust your price to a point that the monthly cash flow meets your requirements and the cash on cash return on investment should produce returns that are equal too or better than if it were invested in the stock market.

I would likely offer less than market and I think they may have purchased early after the crash (not the top, but certainly not the bottom).  

I would think the appraised value should not differ, but would think an appraisal for a purchase might be higher since the appraiser is aware of the accepted purchase contract amount, whereas in a refi appraisal the appraiser has to mostly consider comparable sales of similar properties to help arrive at a value, and those sales may not be as current and as "valid" as a fresh purchase contract.

It's the same scenario if you rent a car crash it and your credit card is maxed out....or rent a Airbnb trash it...I have been using Rently in LA for a while now and the biggest thing that has happened is one lady spilled her starbucks on the carpet and Rently charged her for a carpet cleaning.