Lenders Resource
Foreclosure-Credit Bid Analysis
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Lenders Resource is dedicated to provide our lender partners with accurate and useful information/services that will be a productive tool in their daily activities.

Simons Informational Services

  • First you will need to ascertain the total outstanding debt. This is calculated as follows:
+Principal Balance
+Interest Balance
+Late Fees
+Appraisal Fees
+Environment Fees
+Foreclosure Fee
+Receiver Fees
-Receiver Income
-Insurance Proceeds (Pending)
+Other Fees Advanced
=Total Outstanding

  • Next you want to determine the total equity in the collateral:

+Appraised Value 

-Cost of Sale (Between 8% to 12%, depending on the type of property 

-Senior Liens  

-Other 

-Delinquent Property Taxes

 =Total Equity

Finally, you will want to ascertain what is the lesser of the two. That will be your Credit Bid. 
Total Outstanding    
Total Equity

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