Short Sale On A Second Mortgage But Reinst. First
I have negotiated a short sale on the second mortgage on a property, but want to reinstate the first. The second is asking for a HUD with the first listed as being paid off. Am I losing this deal? I fully intend to reinstate the first after I pay off the negotiated short sale on the second. Will the second mortg co. be able to find out about this? 
On a short sale, you get two things. Either a discount or time. They wont give you both in most instances. Do you have the deed? If you do, then tell them that the HO is out of the picture..
Good luck..
Why not change your request from 'short sale' to simply offering to purchase the mortgage via an assignment at a steep discount?
Falsifying a HUD1 is a common topic in white collar prisons.
Thanks for all your input!! I have reinstated the first, and told the second I was doing so. I also told them that the house value could not support the second mortgage and would like to work out a reasonable payoff. They did a discount from 40K to 10K. I am very excited about this. Thanks again for your input and help!!!!!!!!