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Old 05-14-2008, 07:05 PM
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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???
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Old 05-15-2008, 12:29 AM
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Default Second Mortgage Short Sale help

offer 10% on second, that is typically the industry standard and let the games begin.
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