Bank Wants Response
I am working on a short sale and the first lienholder filed foreclosure on Monday. My plan is to try and short the second and take the first sub2 and sell it. We are waiting for the wife to sign over her interest in the house to the husband. (for mental health reasons) The first lienholder served the summons and is asking for a written response within 20 days of the sellers intentions. 20 days is not enough time to figure anything out with the second since we havent started yet. What should the seller (or me) tell the first? I dont wanna tip them off that I am trying to buy it. Should he just tell them he might start paying again if he can afford to otherwise not?
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