Have any of you run into this? The buyer's lender is insisting on a letter from the seller's 1st lienholder approving the short sale. The seller is only short on the 2nd lien (for which we have approval) and the HUD-1 provides for a full pay-off of the 1st according to the 1st's pay-off demand. Have you run into this before? How did you handle it?
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Just send the Payoff Demand for the 1st and the short sale approval for the 2nd - include the estimated HUD and tell them it's all they are getting - and if they don't like it tell them you have a lender that's more cooperative and you'll help the buyer with another lender....... :-)
They need the payoff, send that to them