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

Posted by Paul on May 26, 2008 at 15:42:26:

In Reply to: Re: 2nd Lender's approval on a Short Sale posted by NJD on April 30, 2008 at 13:40:45:

"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."

or forcing the senior mortgage to foreclose.

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