Housing Assist of America » Bank Price Opinion http://www.housingassist.com Housing Assist of America Wed, 01 Feb 2012 23:40:42 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 BPO http://www.housingassist.com/blog/bpo.html http://www.housingassist.com/blog/bpo.html#comments Mon, 12 Oct 2009 23:29:02 +0000 admin http://www.housingassist.com/bpo/ A BPO is a Broker Price Opinion.  This is used by mortgage lenders to help put a value on the property.  There are several reasons one might need to use a BPO:

  • Homeowner behind on mortgage payments and pending foreclosure
  • Refi candidates
  • Cost of appraisal to be avoided

When the lender is considering a foreclosure, or looking into the borrowers financial for another solution, they will order a BPO.  This BPO will allow them to get a a clear understanding of how much teh proeprty is worth. Once they get this estimate they will compare it to the mortgage balance and recommend solutions.

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