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NCI second lien issues

Posted by Brett Scarbrough on March 24, 2015 at 8:33am in Short Sale Discussions

I have a short sale with Ocwen in first position and NCI in second.  I have an approval from the first and only allows NCI $4700.000 with no contributions from any other party.  NCI is stating they want $25,000 or they will foreclose.  Does anyone have an executive contact at NCI or any suggestions.  My thought is that the president of NCI would rather take $4700.00 vs $0.00, but the negotiators don't feel the same.  Thanks

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Replies

  • Jonathan Katz March 24, 2015 at 10:48am

    What state is this in? Who is the investor on the 1st note? Sounds like you need to get the 2nd down and potentially step into the grey zone if the 1st lien investor does not allow contributions and you can't get the 2nd to come down.

    Brett@ishortsalenow.com

    310-564-6389

    www.ishortsalenow.com

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