I have a short sale approved by the first the second will not let go of the lien unless they get more money

Twes
Home Seller
Ellenton, FL

which the first will not give. What do we do now

Answers (2)
James Gordon PBD...
Agent
Butler County, OH

Sometimes the second will release the lien if you sign a personal loan for the difference. Have you explored this avenue? Seconds for some reason are getting harder to get total forgiveness from. Could be something about getting cash out on the second and then the lender forgiving all the debt.

Web Reference: http://www.Find1Home.com
Thu May 28 2009, 03:56
Blaison Samuel
Agent
Union City, CA
FIRST ANSWER

Twes,

Ask your agent to negotiate with the second. Unfortunately, without second approval, you can close the deal. May be offer little bit higher than the orginial and ask first to give to the second. Even they know that without 2nd approval they cannot close this transaction. Your agent can help you to negotiate with both lenders...

Wed May 27 2009, 20:52

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