I actually just closed on a property where there were two liens. These folks were stretched beyond their abilities each month to pay both mortgages. What we did in their instace, was sell the house for enough to pay off the first mortgage entirely, and requested a short sale on the second. The second lien holder accepted an offer of $10,000 for an approx. $30,000 balance. BUT here's the kicker...they agreed to release the lien only. As soon as closing ended, the sellers were supposed to continue make the same payments on that second lien. That sale did however, free them up from having the large monthly payment. I know this doesn't answer your question, but I thought you might get to that point later on and might want to know there are options. And to be honest I don't think that the credit was affected as badly as it could be with a true short sale. Just something for you to consider. If you'd like to meet and talk about selling your home, please contact me at email@example.com.