Re: 2nd Lender's approval on a Short Sale

Posted by NJD on April 30, 2008 at 13:40:45:

In Reply to: 2nd Lender's approval on a Short Sale posted by Cat on April 30, 2008 at 13:38:02:

Typically, a junior mortgagee gets $1K or $2K to release its security interest. Sometimes, they hold out for more... forcing the senior mortgagee to agree to a shorter haircut.

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