what if 2nd lien does not accept $6000 for GSE?

I, the buyer, have received approval for a short sale that is HAFA II. The only problem is that the 2nd lien holder wants more than $6000 for a GSE.  The first lien holder is claiming it is illegal to ask for more than $6000. But it is my understanding that the 2nd lien is "offered $6000", but is not forced to accept only $6000? Also how do you handle this? Fannie Mae's instructions state no one (buyer, seller,...) can pay the extra amount.

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Comment by Kevin - Greenville, SC on February 24, 2014 at 4:14pm

I would be very, VERY cautious about not putting something on the Final HUD-1 that could be considered associated with the sale of the property. Don't be a test case.

Comment by Kevin - Greenville, SC on February 24, 2014 at 4:12pm

this is a HAFA II, but it's just referred to as the Standard Short Sale by Fannie and Freddie.

Comment by bob on February 24, 2014 at 10:15am

Thanks for the info, now I get what you mean, I'll give that a try.

Comment by bob on February 24, 2014 at 6:24am

FYI, "Hafa II" was referenced from a Fannie Mae (https://www.fanniemae.com/content/announcement/svc1219.pdf). By "try and settle the second", you mean make a deal with them? I may misunderstand your statement, but seems you are stating a generic thing that I am already trying?

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