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Permalink Reply by Christina Conrad on August 9, 2011 at 10:33am

All we do is short sales..it is generally a good idea to submit to both at the same time...we submit all of the same documents to the 2nd that we send to the 1st..we don't alter anything...same financials, same HUD, etc...This will allow the 2nd lien holder to get their ducks in a row and be prepared when the 1st lien holder gives their approval.

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Permalink Reply by Smitty on August 9, 2011 at 11:21am

I usually submit at the same time unless I know the second lien holder works quick.  HSBC as a second approves very quickly, so I may hold that one until close to approval.  it all depends, but over all I would say I submit at the same time.  I also submit two HUDS as Chuck does.

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Permalink Reply by Darren Bell on August 10, 2011 at 7:59am

Chuck,

I like the idea.  Hopefully it is not illegal though.  I'm going to give it a whirl.

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Permalink Reply by Jeff Payne on August 10, 2011 at 8:35am

Darren, nothing illegal because the HUD is just a prelim HUD used for negotiations.  The final HUD is what needs to be correct, with the correct numbers on it, can't have 2 final HUDS.

With that being said, I submit both at the same time and only use one HUD, never really had any issues with one HUD

Darren Bell said:

Chuck,

I like the idea.  Hopefully it is not illegal though.  I'm going to give it a whirl.

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