Edily Garcia
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Edily Garcia's Discussions

Short Sale with a Home Equity line as a second lien holder

Started this discussion. Last reply by Ben Benita Oct 9. 4 Replies

Hello Everyone, I want to know if someone can help me.Am working a short sale with Wells Fargo but the House have a home equity line with Bank of America for the amount of 100,000.00 but the borrower…Continue

 

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Minna Reid replied to Edily Garcia's discussion Short Sale with a Home Equity line as a second lien holder
"Who is actually recorded on title in first lien position? What are the balances owed to Wells and BOA (roughly) and how much is the home selling for?"
Sep 26
Edily Garcia replied to Edily Garcia's discussion Short Sale with a Home Equity line as a second lien holder
"Yes, this is exactly the story. they want to make a short sale too. Thanks for the information."
Sep 26
Brett Goldsmith replied to Edily Garcia's discussion Short Sale with a Home Equity line as a second lien holder
"Are you saying BOA HELOC is stating they are in 1st position? What does title show? If that's the case you need to escalate at the respective servicer to clear up the lien position…"
Sep 24
Edily Garcia posted a discussion

Short Sale with a Home Equity line as a second lien holder

Hello Everyone, I want to know if someone can help me.Am working a short sale with Wells Fargo but the House have a home equity line with Bank of America for the amount of 100,000.00 but the borrower only ows 30,000.00 to bank of america. Wells Fargo want a letter from bank of america saying that bank of america is a second lien holder and wells fargo the first but bank of america wants to open a short sale for the home equity line they don't want to negotiate the lien as a second lien…See More
Sep 24
Edily Garcia is now a member of Short Sale Superstars
Sep 4

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First Name
Edily
Last Name
garcia
Are you a...
3rd Party Negotiator
State
NJ
City
Elizabeth

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