Short Sale-2nd Mortgage
I am working with Washington Mutual on a Short Sale. There is a second mortgage on the property that was just sold to another lender. I have never seen a 2nd mortgage company so excited to accept a short payment. They basically told me that they would take the bare minimum if the 1st accepts a Short Sale. This was good news to me. I told the 2nd that the most I could offer is $1,000 the close the account. They are willing to accept this offer. The current payoff it $16,000. Please don't shy away from Short Sales if they have a 2nd mortgage. They will take just about anything rather than getting nothing.
Good Job homebuyer13.
However: Couldn't understand why would/did people/bank that hold the "second" just both it, then is then would gleadly take a deep SS?