HAFA short sale> both 1st and 2nd/HELOC state the other MUST approve first

I have a situation where the second mtg/HELOC will NOT approve the short sale stating the first mtg MUST approve first.

Then the 1st mtg is stating the second mtg/HELOC MUST approve short sale first per HAFA guidelines.

I have searched everything I can find regarding HAFA rules and cannot find anything that refers to this issue.

Does anyone know how to proceed?  Even out attorney who is excellent cannot find anything to help get this short sale approved.

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Permalink Reply by Short Sale Superstars LLC on February 3, 2013 at 10:28am

Marge,

      Which lenders hold the 1st and 2nd? With the right escalations and proof that they won't move forward typically you can get one of the lenders to move forward. We process a very large volume of files and run into this situation often. More often than not it isn't too hard of a resolve.

[email protected]

310-564-6389

www.ishortsalenow.com

Permalink Reply by Edwin Baloloy on February 4, 2013 at 5:41am

Who are the servicers?

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