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...
What Is A Motion For Relief Of Stay: Chapter 7? by Michael G. Doan, San Diego Bankruptcy Attorney
Bankruptcy - Two Years Later by Eugene S. Melchionne, Connecticut Bankruptcy Attorney
Should I File A Chapter 7 Or A Chapter 13 Bankruptcy? by Douglas Jacobs, California Bankruptcy Attorney
You must be logged in to post a comment.