To Start the short sale process click here: http://www.vgrouphomes.com/atj/user/AdditionalGetAction.do?p
John & Sarena Villaescusa
Keller Williams Realty
If a property has 3 loans, all lienholders have to approve the short sale.
It is highly doubtful that you will be able to get a short sale approved.
It is difficult to get the 2nd lienholder to approve the short sale, let alone a 3rd lienholder.
Most likely the 3rd lienholder will be left with nothing.
My advice is to find another property that has less loans on it preferably one.
It would then be more likely that the short sale be approved but it will take time. Usually up
to 3 months or longer. So you must be patient.
If you have any additional questions, feel free to email me at:
WestsdeBkr@aol.com or call me at 310 432-5787
Keller Williams Realty, Beverly Hills
Steve Oren - Certify Disterssed Property Expert
Unfortunately that is not the case - if their are multiple lenders in a short sale, all of them would have to approve the short sale and approve the amount they were to receive as forgiveness of the debt. When there are three lenders involved, unless there is enough proceeds from the sale to pay off both the first and the second loan, the lender on the third loan would likely not receive anything at all, so it is quite likely they may not approve the sale. The less lenders involved in a short sale, the less lenders required to approve it.
Hope this info helps - feel free to email me at email@example.com if you have any questions.
Coldwell Banker Residential Brokerage
Sherman Oaks, CA