What is a BPO?
By Pamela Stewart, Attorney at Law on Oct 12, 2007 in General Bankruptcy Information
A BPO is a Broker’s Price Opinion which is an evaluation of a home/property typically done by driving by the property, reviewing public data sources and recent comparable sales. This is ordered by the mortgage servicer and or lender as an alternative to a full appraisal of the property and is done after the loan is considered in default or upon loan modification.
Typically, a debtor is unaware that a BPO has been done on their property, much less that they are being charged for the BPO.
If you liked that post, then try these...
Can A Creditor Add Attorney Fees To My Bankruptcy Case? by Andy Miofsky, Illinois Bankruptcy Attorney
Can My Lawyer Dismiss My Bankruptcy Case Due to Non-Payment of Attorney Fees? by Pamela Stewart, Attorney at Law
Who Will Know About My Bankruptcy? by Däna Wilkinson, Attorney at Law
You must be logged in to post a comment.