Short Sale With 1st And Heloc
I have a house I am trying to get rid of; has a 1st for 165K(Ameriquest ) with a heloc for 47k (Countrywide), was appraised by Ameri. 5 years ago for 220K. I put it up for auction and the highest bid was for 77500. (FMV from Ameri. was 135K). My realtor said if the 1st accepts a short sale the HELOC has to accept. Is this correct or can the HELOC not release? If I put it on the market what sounds like a offer they would accept?
Comments(0)