Need help with a US bank 2nd lien

We have an approval with Wells Fargo on the 1st. They are offering US bank 3k. US bank will only accept 12k with a promissory note for the remainder of the deficiency. My seller has even agreed to sign a promissory note for the 9k difference but, they want cash at closing for that and the promissory note for the balance. They WILL not budge. We tried to escalate the file and the same person keeps calling us back. Any suggestions.

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Permalink Reply by Jeff Payne on October 28, 2010 at 9:31am
Carrie, go to the US Bank group and send an email to the contacts that are posted. Escalate it to the top. US Bank is not to bad to deal with if you can get past the front lines. Get them to take the 9K prom note and give them the 3K that the first is allowing.
Permalink Reply by Jennifer McNitt on October 28, 2010 at 9:45am
Does this actually work? Which people on the list do you talk with though?

I've had so many problems with USBank on the house we tried to sell and they have both the first and second leins. Everyone we've talked with has given us a different story on what will be required.
Permalink Reply by Jeff Payne on October 28, 2010 at 9:50am
Jennifer, it does work, it takes an aggressive approach and you have to keep going back to the top. I got one approved in 24 hours without any paperwork, just and HUD-1 and contract.

Jennifer McNitt said:
Does this actually work? Which people on the list do you talk with though?

I've had so many problems with USBank on the house we tried to sell and they have both the first and second leins. Everyone we've talked with has given us a different story on what will be required.

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