Replies to This Discussion

Permalink Reply by Claudia Carignan on June 24, 2010 at 12:49pm

Hello Mori - can you send me the option you have tried in reference to what Ed posted please? I have one that I cannot get the 1st to pay more and the 2nd to take what the 1st has offered.

Thanks

Claudia

Mori Langshaw Sr said:

What is your email Ed?

Edward Codelia said:

I have an option that you may not have tried......email me......

Permalink Reply by Victoria Frieberg on July 15, 2010 at 4:13pm

ok, how about Chase saying, no, we won't accept the 6400 Wells has offered, so...you tell us what you can bring to the table, and we will tell you if we will accept it!? About three weeks ago, the supervisor said she would accept 8500.00..then changed her mind speaking to the listing agent..so..here we sit. we are offering the 8500.00 hodge podged together with everyone contributing..and waiting to see if they are playing a game or what. I think we should have a survey...WHICH SECOND POSITION LENDER IS WORST...and then send the results to every executive office, the OCC and whoever else we feel like showing the results!..

Permalink Reply by joe beauchamp on July 17, 2010 at 6:44am

Most 2nd's are debt collectors in attitude and deed. As such, they play the odds - demand what they want, someone involved will want the deal done enough to pay up. The odds are this will happen, sometimes there is a foreclosure and they lose it all, but the ODDS are that someone will pay so they are usually willing to go all the way and watch you go to foreclosure. Also, they like to drag it out - they like to force YOU to make a last second decision to save the deal - you see $$ going down the tube in 15 minutes, OK, 1/4 of that to these thieves is better than losing 100% of it, right?

I don't like dealing with 2nd's and usually don't have to - someone else in the office does that dirty duty.
Anyway, that might help you understand and get into their mindset. If you don't pay them and you lose the deal, make that note and get that info to the manager of this guy next time around - hit them where they live - blown deals.

I'd also say keep hammering on the lack of $$ from anyone - it just isn't there. Can't be helped, etc. (Oh, I don't know, it feels like lying - like they do - guess that is why I really don't like dealing with 2nd's.)

Permalink Reply by D'Adrea Davie on January 10, 2014 at 3:47am

I currently received a short sale approval with Ocwen who is willing to pay the second no more than $3000.00 to the second lien holder, who is Carrington Resolution Services (CRS). CRS stated they are not willing to accept nothing less than $10K, which I was recently able to negotiate down to $8,500.00. The buyer is willing to contribute the difference of $5,500.00 However, when I turned in updated HUD1...Ocwen was not willing to accept due to the second receiving more than the amount they allotted for $3,000. I am seeking any suggestions to be able to complete this short sale. Any help would be greatly appreciated. 

Permalink Reply by D'Adrea Davie on January 18, 2014 at 1:36pm

Well, I seem to have resolved my own issue...and we are able to move forward with the sale. 

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