Upcoming Foreclosures

On a foreclosed home, who negotiates the price on behalf of the mortgage owner(s)?

Let's say, a home goes through foreclosure. Its related mortgage was pooled and securitized among thousands of others. Now, the home is for sale. The real estate broker incentive is to set a low price to turnover the property quickly. That's because for a broker time is money. So, who negotiates the price and protect the fragmented owners interest (MBS investors). Is it the servicer of the mortgage? But, because of his own operating cost he also would have an incentive to sell quickly at a low price. How about the securitization bond trustee. Does the trustee step in and negotiate with the broker what price is deemed acceptable to the MBS investors? You can see it is kind of a gnarly question. If you have a clear understanding of this process, please educate me.

Public Comments

1. No one because in the end you are ultimately responsible, and the interest and charges keep adding up.
2. because foreclosures are somewhat unique, lenders request that a bpo done with foreclosed homes to find its real value. offcourse bpo doesn't protect them bad market since a current BPO today might be old next week. lenders have options to sell foreclosed homes, either employ real estate agents to sell it for them or an auctioneer to auction homes or both all Lenders have yet realized that it is better to sell quickly for losses than have property sit for a long time, perhaps by summer next yr they will.