Replies to This Discussion

Permalink Reply by Sherrilee Denton on August 25, 2010 at 2:41am

Rebecca, my experience dealing with the home when it's been discharged from bankruptcy is not much different than dealing without a bankruptcy involved, except for receiving the deficiency language we ask for.from the lenders. The primary lien holder seems to be easier to deal with, but junior lien holders still seem to drag the process out and make their usual unreasonable demands. I've experienced Junior lien holders still demanding 10% of the debt as their payoff amount, they still try to go after broker commissions cuts or requesting commission contributions. I had a secondary lien holder telling me that the investor guidelines only allow 4% commission and because I was approved for 6% by the primary lien holder that I would have to contribute 2% of my commission to them! LOL NOT that I would allow that to happen! LOL It's crazy what the lender's negotiator says sometimes! Good luck and stay firm like you would with any other short sale you were negotiating. Be Blessed.