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Sad news-offer not accepted`

December 13th, 2013 at 10:36 pm

Hi all,

using this somewhat as a diary too (hoping to read back on it someday and laugh).

the 'settlement/short payoff' for my house was DECLINED..No counter but they apparently do not always counter offers.

Offer $260k.. house worth at a firesale $380k and I want to live here.

Reoffered $285k today.. fingers crossed.

I will figure out a loan/money ... if it can work out once offer is accepted.. just need to get a number.

I actually got this news yesterday but was very upset. Decline was a HUGE surprise. i was so confident I was nearing the end.. I was super down.

After several years of hell.. 4-5?? I just want things to settle down and calm down and would LOVE To settle into my house..

Fingers crossed and prayers for a good response next week.

I DID ask them to counter if the offer was not sufficient.

Part of why they may have refused was because they upped the value in their system to $380 vs $350

Onward.

Posted in Short Refinance | 2 Comments »

2 Responses to “Sad news-offer not accepted`”

  1. snafu Says:
    December 14th, 2013 at 12:15 am 1386980127
    1386980127

    I'm not sure the bank would have been doing it's fiduciary duty by selling your house in foreclosure/short sale back to you for your low ball 65% offer of $ 260 K when it originally evaluated or loaned $ 400.K - $ 410 K? Am I correct in assuming you are still living in the house and enjoying it features?

    Kiyosaki's book was very controversial when 1st published. I recall his corporation fell into corporate bankruptcy when he lost a judgement for $ 24m I wonder if that thinking by the executive suite caused the 2008 collapse in the USA which vibrated around the world. I was just reading about the retirees at American Airlines who have lost their pensions and have no way to replace the funds they believed were safe in corporate hands.

  2. TashaC. Says:
    December 14th, 2013 at 01:53 pm 1387029228
    1387029228

    I had to leave the house right after I posted last night. I'm just getting around to responding now. I am finding your story fascinating. You are attempting to fill aspirations comparable to mine at an accelerated and grander scale then me. Basically you are more aggressive and I am more cautious. I have never heard of this Short Refinance and I thought I had heard of most products out there. Keep trying and keep posting.

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