Asked by John Adler, San Clemente, CA • Sat Jan 1, 2011
Realtor opinions and mortagage broker opinions, please!
Is the First position required to sell the property in an attempt to assist the second if possible?
I realize in CA the second, depending on the circumstances, may or may be unable to go after the borrower!
If the second was informed that the borrower may return the keys, deed in lieu to the first, what are thier options to retrieve some of their investment? What would you do if you were in the Second position?
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