Second Lien question

Does anyone know what is usual for the second to request in a short sale? I offered 3000 and got an approval asking 8k. I was told they approved the minimum. Neither seller nor buyer will pay extra and i'm afraid it will go to foreclosure. Also, they did not release the deficiency on this loan and it was in the offer and P and S.

Any information would be very helpful.

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Permalink Reply by Gael Adair Grove, CDPE/SFR/ePro on March 9, 2011 at 11:59am

hi,

what is the first willing to pay the 2nd? maybe you can get the first to pay more.? If not then tell Wells that all you can get is 3k. Sometimes you have to play hard ball!

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