Help??how To Negotiate Ss W/1st & 2nd Same Lender?
my question is how can I ss the 2nd when the 1st is with the same lienholder? Is there anything specifically needed to begin this ss process with this scenario? any help will appreciated.
This happens periodically. Even though the loans may be serviced by the same 'lender' they may be owned by different investors, each with their own servicing criteria.
You should make sure there are separate applications, and separate Proposals for each mortgagee.
Hopefully, the first is not an FHA insured loan.
[addsig]
get copies of the notes from a title company (I cold called one, and they gave me a free account). They you can see exactly who the beneficiaries are
If it goes to sale they are going to eat the 2nd.