Hello Everyone and MERRY CHRISTMAS to you all and your families.

     I have a first time issue Im wondering if anyone has had.  

Short Sale, 1st Mortgage with Nationstar Fannie Mae backed, wants 10% to give full waiver, has to give 2nd 6% per Fannie mae.  No problem. Done deal, agree to 10% got full waiver.

2nd Wells, HELOC, has to accept the 6% per Fannie guidelines, BUT, they stated they will have the Recovery Team get in touch with the seller to settle up the balance or make arrangements for what they can do that will be good with both parties after the closing. They can not make any arrangements before hand because they can not show Fannie they will be getting any more $$.

As you can imagine, the seller has been having many sleepness nights, with the possibilty of $50000 debit hanging in the shadows.  

Anyone have this issue before?

Since I am not able to I am having the seller call Fannie Mae now to see what he can find out.
Thanks in Advance
PAul Antonelli
[email protected]