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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Comments
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.
this is a HAFA II, but it's just referred to as the Standard Short Sale by Fannie and Freddie.
Thanks for the info, now I get what you mean, I'll give that a try.
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?