Bank of America As Second Lien Holder??

Hello All,

I am doing a SS with Chase as the First and there is also a second (a line of credit secured by the house) with BOA. Do I still initiate it in Equator just as I would if this was the first? Will they know they are the junior when the HUD shows the second only getting a small amount (whatever it may be). Also, the seller is not delinquent on the second. Will this be a problem. Any advice would be greatly appreciated. Thank you

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Replies to This Discussion

Permalink Reply by Pattilynn Guilford on August 22, 2012 at 4:16am

Call and ask for protocol. Some helocs do not go into EQ. make sure yours does before initiating

Permalink Reply by Katy C on August 22, 2012 at 4:18am

Ok, once I have the account information I can just call BOA, give them the loan number and they will be able to tell me? Is this correct?

Permalink Reply by Pattilynn Guilford on August 22, 2012 at 4:20am

yes, call the number on the mtg stmt. You get the most accurate info from that...they will either tell you what to do or connect you with the liquidation dept.

learned from mistakes from the past. Always call the number on mtg stmt and have last 4 of social handy.

Permalink Reply by Katy C on August 22, 2012 at 4:24am

Thank you for your quick response. I will do that and go from there. Now if I could just get the seller to give me all her docs!!!

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