I've dealt with them. Some lenders opt to take their chances to recoup funds at foreclosure than taking a 1st liens proposed payoff; Or it may be a hardball tactic to attempt to recoup more funds from contributions or other methods.
Brett, Thank you!
I would say that a reason why you might find a second mortgage might seemingly rather get $0 but there are many benefits to going this route. A Franklin Credit Management Corp Short Sale is tough. The company through various means, will likely benefit in the foreclosure process.
Lender's Areas To Benefit From Foreclosure (not limited to):
Often there are other various reasons that the second mortgage lender may be willing to let it go but if you can show them they will make more money working with you than letting it go that is where the mastery of our business comes in. Negotiating the un-negotiable.
Absolute Consultant Group
Thank you for the detailed information! It definitely helps.