ING is 1st lienholder & only offering $1150 to Compass 2nd($28K due) on Approval letter. Compass replies w/ release of lien for $1150 , but will continue to pursue judgement on Seller. Seller is willing to foreclose with these terms of short sale approval. Do you think Compass will accept a higher payoff from 1st & Not pursue Seller ? Thx- Bob
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Bob - You can try. They usually want full or hefty amount to settle, though. They also very willing to arrange promissory note terms at very low payments to the seller.