BPO
I got my first deed and doing my first SS. I called the first mortgage holder yesterday to find out if they received my "authorization" letter and was able to order the BPO at the same time. The realtor who is doing the BPO called already today and asked a lot of questions about my relationship with the mortgagee and what I planned to do with the house. She said she works with an investor who might want to buy the house (wholesale, I'm sure). My question is, how much should I tell this realtor and does it matter if she knows that I have the deed?
I would not disclose to the mortgagee that you have the deed. It could well invalidate any short sale potential. Seems like you are trying to combine techniques... not an easy task.
I wouldn't disclose to the mortgagee that I have the deed. The realtor who is doing the BPO was hired by a middle man and she said she wasn't told who ordered it. In fact she asked me who the mortgagee was. That, and the fact that she told me she had an investor that she worked with, is what made me wonder about those questions.