I shared with the 2nd lien holder's negotiator an article on Florida's new "Rocket Docket" law, which allows the foreclosure process to be completed in as little as 45 days, and documentation on the condition of the property to support the valuation and settlement. The HOA is poised and ready to use the new law when it goes into effect on 7/1/13 to foreclose on the property. B of A offered them the same amount that they would receive if this was a HAFA sale.

Here is his unedited response:

“You don’t have to send me anything,  I understand your position in this process and who benefits from this and who doesn’t if the property goes into foreclosure. The issue is not that you are not providing me docs to support your reason. The issue is we will not accept the low offer on this property. I have forward this to my supervisor and she will more than likely call you or email you, but being honest with you I see this going into foreclosure if we do not get more then what the 1st is offering. Sorry about this.”

“The logic is that we won’t accept just anything we are being offered unfortunately, we have the 2^nd lien on this property and we are being low balled on this sell, Why is it that we are the only ones that need to Settle and move on? We are willing to compromise and work something out but we are not being offered anything different. We understand by going to Foreclosure we get nothing and neither do any of the agents involved or the 1^st. We get it that the 1^st will eventually get something when it gets auctioned out but we just feel this is not a fair transaction”