• The seller has several high dollars properties as well.

    • The whole thing doesn't make sense. One things is for sure, they convinced the realtor that they are giving zero to the second. I wonder why Green tree is doing this? Maybe this is just another way to say no to a short sale?

  • There is no set % amount FNMA gives to subordinates.  It's up to $6000 and generally is only less than $6000 if the balances of the subordinates don't add up to $6000.

  • Mike, Bryant is right about FNMA having SET guidelines.  They'll pay 6-8%, up to $6,000-ALWAYS.  As they asked, is Your agent, also the Listing agent.  Only the listing agent/negotiator will have direct contact with the lender.  Of course, it wouldn't be the first misinformed employee of a lender spouting incorrect information.

    • Im working with the listing agent. Could a PSA be telling Green Tree to give nothing to the second?

  • FNNMA will allow up to $6,000 for junior liens. Not sure why GT is denying this. Sounds to me as if you may be getting partial information.

    • Is my realtor lying to me? What possible reasons could Green tree have to tell the second that they get nothing but must release their lien?

      • Mike,

             I'd agree with Bryan that it sounds like there seems to be some information missing from the picture. Is your realtor also the listing agent? If not there is a great chance of miscommunication if they are not directly processing the transaction or if they do not hold a greater understanding of the world of short sales.  Also, do you know who holds the 2nd lien on the property? Is it a mortgage lien or a judgment?


        • mortgage lien I called the county clerks office

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