First And Second Held By Same Morgatage Co
I am working on a SS where the first ($208K) and second ($27K) are both held by the same mortgage company (Countrywide). The first is in pre-foreclosure.
My Question: is there any strategy that I should keep in mind when preparing the HUD-1, considering that both first and second are held by (or at least serviced by) the same company? For example, if I offer $215, is there advantage to showing first as being paid off in full and the second taking the full amount of the discount, or should I allocate the discount against both, or is there really no advantage / strategy to keep in mind either way?
I'm faxing the offer tomorrow -- any thoughts anyone would have would be greatly appreciated.
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