Can Secondary Lender Take Relocation Assistance Funds?

For my short sale, I'm approved for the $3,000 relocation assistance from my primary lender.  I'm considering waiving the relo $$$ to keep secondary lender from taking it.  My question is: can the secondary lender consider/take this money as additional funds to apply towards their share of the mortgage deficiency or are the relocation funds somehow protected & payable only to me?  Any insight would be appreciated.

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Permalink Reply by Wendy Rulnick on June 6, 2012 at 7:01am

JSav - I don't think they can "take" it. They might ask you for it, though.  

Permalink Reply by Bryant Tutas on June 10, 2012 at 12:00am

xx

Permalink Reply by SE Davis on June 10, 2012 at 2:33am

Don't be silly.

"I f necessary" you should use that $3,000 to assist in your negotiations for both "satisfaction and release" of the subordinate lien.

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