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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Here's something to try... Posted by Ward-CA- on June 04, 2003 at 7:59 PM In Reply to: Short Sale Question - Need Help! posted by Stuart on June 04, 2003 at 3:31 PM : I have an agreement from the sellers of a house to short sell their property to me. I've contacted the 1st mortgage holder, but they tell me that they won't even discuss a short sale unless the 2nd mortgage holder gets nothing. Why would the 2nd mortgage holder even consider this? Is there a way to do a short sale with a 2nd mortgage holder involved? =•=•=•=•=•=•=•=•=•=•= Stuart, Is the lender on the 2nd a private party? If so the 1st may suspect that they really aren’t owed the amount you claim they are. So if the 2nd is an institutional lender, like the Money Store, etc. then go back to the 1st and tell them that the 2nd is asking why should they do anything if they’re going to get nothing out of the short sale? No way to do a formal short sale without the involvement of the 2nd, that I know of. Follow Ups: Re: Here's something to try... Cary 0:50 AM, 06/05/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : I have an agreement from the sellers of a house to short sell their property to me. I've contacted the 1st mortgage holder, but they tell me that they won't even discuss a short sale unless the 2nd mortgage holder gets nothing. Why would the 2nd mortgage holder even consider this? Is there a way to do a short sale with a 2nd mortgage holder involved? : =•=•=•=•=•=•=•=•=•=•= : Stuart, : Is the lender on the 2nd a private party? If so the 1st may suspect that they really aren’t owed the amount you claim they are. : So if the 2nd is an institutional lender, like the Money Store, etc. then go back to the 1st and tell them that the 2nd is asking why should they do anything if they’re going to get nothing out of the short sale? : No way to do a formal short sale without the involvement of the 2nd, that I know of. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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