Interior BPO normal for wf 2nd(3rd)settlement?

[bionicle]

couple of agent called me already for interior bpo.
Well I have started the process to settle my second(third) with wells fargo and
they told me they are going to order an interior BPO. Is this normal?
Chase never did this to modify my first. I guess I should point out any problems in the house to keep it down?

Thank you so much give me any advise ~

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1st hamp modified chase
2nd wf 2mp modified.

This is for 3rd one, 50k ~70k underwater.
13months behind.

Wf haven't send me any offer yet.
but I sent proof of fund which my family member made cashier's check out to wells fargo already.
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[Evan Bedard]

they told me they are going to order an interior BPO. Is this normal?
Chase never did this to modify my first. I guess I should point out any problems in the house to keep it down?

Hello Bionicle,

Generally, for a loan modification or a settlement they will just do a basic exterior BPO to get a rough estimate of the home;s value. Although I have seen servicers request interior BPO's before they are not too common in this situation and with your home being at least $50-70K underwater I really do not see this being necessary. If you feel uncomfortable allowing an agent to come into your home and take pictures you may want to request that they just do an exterior BPO and if needed provide some recent comps to show what similar homes in your area have been selling for.

[bionicle]

Thank you Evan repling my post.

If I can request not to do interior bpo, there's no disadvantage or less leverage for settlement ?

I didn't order bpo my self. Bank ordered to couple of agent.

I know i shouldn't but I'm kind of scared of wf.

Is this possible? like a.... Are they doing something else behind me other than a settle?

as I know my house value 650k. that is very recent sold which is exactly same as mine.

I owe 230k to wf 3rd.

Hello Bionicle,

Generally, for a loan modification or a settlement they will just do a basic exterior BPO to get a rough estimate of the home;s value. Although I have seen servicers request interior BPO's before they are not too common in this situation and with your home being at least $50-70K underwater I really do not see this being necessary. If you feel uncomfortable allowing an agent to come into your home and take pictures you may want to request that they just do an exterior BPO and if needed provide some recent comps to show what similar homes in your area have been selling for.

[Evan Bedard]

If I can request not to do interior bpo, there's no disadvantage or less leverage for settlement ?

I didn't order bpo my self. Bank ordered to couple of agent.

I know i shouldn't but I'm kind of scared of wf.

Is this possible? like a.... Are they doing something else behind me other than a settle?

as I know my house value 650k. that is very recent sold which is exactly same as mine.

I'm not sure but maybe they are trying to get the highest value out of the property.. What is the balance of your 1st and 2nd mortgage?

[bionicle]

Thank you again Mr. Evan

my 1st 410k
2nd 92k

and single point contact person called tonight and ask for my hardship. Is it nessesary to settle?

I'm not sure but maybe they are trying to get the highest value out of the property.. What is the balance of your 1st and 2nd mortgage?

[Evan Bedard]

and single point contact person called tonight and ask for my hardship. Is it nessesary to settle?

Well this account is not going to disappear so you will want to try and get it resolved sooner or later. If time goes by and the value or your property ends up increasing enough to where you now have equity in the home, they can initiate foreclosure on this account if it is still in default by that time. Since they have not threatened foreclosure in 13 months they are well aware they are currently in no position to pursue foreclosure on this account.