We are buyers nearing the end of a short sale that has been going on for 3+ months.  The property had 3 liens and the first 2 have been approved.  The 3rd lien holder is Navy Federal and we recently found out they were offered $750 from the 1st lien holder, but rejected the amount and countered with a request for $7,000.

The seller is attempting to negotiate with NFCU, but we are not sure if they will be successful or how long it will take.  Can someone please tell me what our options are as buyers? For example, can we negotiate with NFCU directly or offer through the 3rd party negotiator additional funds that would make them approve the short sale?

Thanks in advance,


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You may be able to contribute to the 3rd lien. They should be asking if the investor on the 1st notes guidelines will allow contributions to show on the Est. HUD to subordinate mortgages.



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In my experience Navy Fed is pretty quick to deal with, but they don't like taking a loss. :).  They tell you what they need from the deal and they don't seem to negotiate much from their initial position. 

The buyer should be able to contribute the $7000, Navy does not care where it comes from and I am guessing the first trust lien holder wont care, as long as the money does not come from the seller.  If they think the seller has that kind of money, the first trust may want it.

Let the listing agent know you will contribute the $7K and this one should wrap up pretty quick.  Good luck.



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