Both loans with Wells Fargo.
Offer is good enough that the first loan will be paid off
Payoff to 2nd lien is $12,288 or 14% of loan balance and 2nd gets whatever is left at escrow.
Total that 2nd will get if we agree, will be $19,768 or 22.7% of 2nd lien balance.
That's way better than average. Seems like this guy is bluffing...but we've been in contract since mid-December. Seller has IRA and money market funds that he doesn't want to touch. He's also not making as much money as he used to, and was unemployed for almost a year. That $5K contribution is signficant.
So....what have others done in such a situation?
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