Forum

professional recovery

Posted by Greg Zajdel on March 25, 2010 at 6:53am in Short Sale Discussions

My client had a 2nd mortgage with Chase. Representative told me to call  Professional Recovery Services at 800-309-8000. Any idea what is their approach towards short sales? Are they tough?

My client had 25k mortgage balance and we have approved 2500 from the 1st lender to pay off the 2nd mortgage co.

You need to be a member of Short Sale Superstars to add comments!

Join Short Sale Superstars

Email me when people reply –
Follow

Replies

  • Juan Reyes March 25, 2010 at 1:00pm
    Because they are a junior lien they can not execute a foreclosure on the home. They probably did BPOs on the home they know that the property is worth much less anyways so they can not to expect much from a short sale.

    It sounds like they sold the debt to a collection agency, most likely for pennies on the dollar. Which means that you may have a good chance at them accepting at $2,500 payoff. How much is owed to the 2nd?
This reply was deleted.
********************************** like buttons ************************