View Single Post
  #1 (permalink)  
Old 05-14-2008, 07:05 PM
SoCalAgent SoCalAgent is offline
Junior Member
 
Join Date: May 2008
Posts: 1
Default Short sale w/ 1st & 2nd: 2 different lenders??

I have done a few short sales but I have been lucky becuase when they had 2 mortgages they were with the same lender so Negotiating and getting the deal done was not to hard other than the usual phone & email tag. My big concern at this time is I am now starting to come across people who need to and rather do short sale than forclose if possible but they have a 1st & 2nd with 2 different lenders, in most cases it was all purchase money but in others they have cashed out. How difficult is it with 2 lenders having mortgages on property? Does any one have any suggestions on how to get the ball rolling or any tips on what steps to take with 2 different lenders on 1 property???
Reply With Quote