Midfirst Bank is 2nd lien & receiving $6000 from BOA/FNMA per Approval letter. Midfirst countered saying they want $27,000 ($33,400 is total loan amount). Who can i call at Midfirst, above my negotiator? The negotiator is a guy name Boyd and he's not offering a reasonable counter, "per his management."  Whats the seller's options to avoid foreclosure?  Regards- Bob

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tough spot to be in with FNMA backing the 1st. What is the 2nd equitable position if the 1st forecloses? What state are you in?

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Brett, we are in AZ. Seller is retired, only income is SS and pension @ $1550/ month. Other assets are in Retirement accounts. Can 2nd pursue funds in sellers  IRA/retirement  accounts? HELOC was not original puchase loan, but used for pool/home improvement, which was dillengtly paid off over 5 years, but then seller hit the hardship and used HELOC for other credit card payoffs. I NEED ANOTHER CONTACT at Midfirst thats above my negotiator

Fannie Mae will happily foreclose if the 2nd is not willing to accept what they are offering. they do it all day long.

depending on what assets of the borrower they think they can eventually go after and obtain they may have a position that they consider to be worth taking.

we are in AZ. Seller is retired, only income is SS and pension @ $1550/ month. Other assets are in Retirement accounts. Can 2nd pursue funds in IRA/retirement  accounts? HELOC was not original puchase loan, but used for pool/home improvement, which was dilengtly paid off over 5 years, but then seller hit the hardship and used HELOC for other credit card payoffs. 

I NEED ANOTHER CONTACT at Midfirst thats above my negotiator

we are in AZ. Seller is retired, only income is SS and pension @ $1550/ month. Other assets are in Retirement accounts. Can 2nd pursue funds in IRA/retirement  accounts? HELOC was not original puchase loan, but used for pool/home improvement, which was dilengtly paid off over 5 years, but then seller hit the hardship and used HELOC for other credit card payoffs. 

I NEED ANOTHER CONTACT at Midfirst thats above my negotiator

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