Pay off 1st in full and short 2nd and 3rd? - Short Sale Superstars2024-03-28T19:22:51Zhttps://shortsalesuperstars.com/forum/topics/pay-off-1st-in-full-and-short-2nd-and-3rd?groupUrl=bankofamericashortsales&commentId=3468065%3AComment%3A383356&groupId=3468065%3AGroup%3A207&feed=yes&xn_auth=noThe first is not involved. Ju…tag:shortsalesuperstars.com,2017-01-24:3468065:Comment:3834662017-01-24T01:07:32.566ZElizabethWeintraub00697006LyonREhttps://shortsalesuperstars.com/profile/ElizabethWeintraub
<p>The first is not involved. Just order a beneficiary demand from the first. I'd offer the third either $3,000 or $6,000 and give the rest to the second.</p>
<p>The first is not involved. Just order a beneficiary demand from the first. I'd offer the third either $3,000 or $6,000 and give the rest to the second.</p> Since the 3rd is so large is…tag:shortsalesuperstars.com,2017-01-24:3468065:Comment:3833562017-01-24T00:42:53.698ZThom Colby CA Brkr 888-391-5245https://shortsalesuperstars.com/profile/ThomColby
<p>Since the 3rd is so large is it an SBA loan?</p>
<p>Since the 3rd is so large is it an SBA loan?</p> I wouldn't anticipate a 75% a…tag:shortsalesuperstars.com,2017-01-24:3468065:Comment:3833532017-01-24T00:35:52.325ZBrett Goldsmithhttps://shortsalesuperstars.com/profile/BrettGoldsmith
<p>I wouldn't anticipate a 75% and 25% split between the 2nd and 3rd. I'd be offering the 3rd considerably less to begin with as they are pure dead debt based off the numbers you stated.</p>
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<p>I'm here if needed to help!</p>
<p>310-564-6389</p>
<p><a href="http://www.ishortsalenow.com" target="_blank">www.ishortsalenow.com</a></p>
<p>brett@ishortsalenow.com</p>
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<p>I wouldn't anticipate a 75% and 25% split between the 2nd and 3rd. I'd be offering the 3rd considerably less to begin with as they are pure dead debt based off the numbers you stated.</p>
<p></p>
<p>I'm here if needed to help!</p>
<p>310-564-6389</p>
<p><a href="http://www.ishortsalenow.com" target="_blank">www.ishortsalenow.com</a></p>
<p>brett@ishortsalenow.com</p>
<p></p>
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<p></p> Good luck with PHH. It took…tag:shortsalesuperstars.com,2017-01-24:3468065:Comment:3835282017-01-24T00:12:11.674ZThom Colby CA Brkr 888-391-5245https://shortsalesuperstars.com/profile/ThomColby
<p>Good luck with PHH. It took me almost 2 years and 4 buyers to get a deal closed with them - they are extremely difficult to work with. That said, you cannot short the 1st if the proceeds would cover what they are owed (balance plus interest, late fees, legal fees, etc.) In your scenario, I expect the 1st will get paid in full. the 2nd will get as much as they want, and the 3rd "might" get a nominal amount - maybe $1,000. </p>
<p>I will be honest, PHH is a pain and will slash your…</p>
<p>Good luck with PHH. It took me almost 2 years and 4 buyers to get a deal closed with them - they are extremely difficult to work with. That said, you cannot short the 1st if the proceeds would cover what they are owed (balance plus interest, late fees, legal fees, etc.) In your scenario, I expect the 1st will get paid in full. the 2nd will get as much as they want, and the 3rd "might" get a nominal amount - maybe $1,000. </p>
<p>I will be honest, PHH is a pain and will slash your commission - I don't handle any short sales with PHH any more.</p>
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<p>Good luck!</p>