I find this website very informative and would appreciate some insight on our recent SS offer to BOA.

The home was orginally listed for $260k in mid August, and late September they dropped the price to $254k. Our offer was submitted to the bank last week for $240k. Our realtor gave us comps of $235k-240k and informed us that the homeowners would be missing their first payment this month. The house is very taken of care no visable issues! Curious to see if this is a good offer? I know the owners purchased the home back in 2002 brand new for $335k. Well today I found out that there are two deeds of trust. The public records show that as of 2007 one deed is $300k with Countrywide (BOA) and the other is $22,500 with American Wholesale Lender. What does this mean for the short sale process? Anyone had any experience with American Wholesale Lender?