SS Seconds...
If your strategy is to short sell large seconds, and reinstate the first, is a full short sale proposal necessary to the second holder? Also, is there a way to find sellers with large second mortgages before they get on the Notice of Default list? Thanks!
The second's decision to accept less than they are due will be based upon the Proposal presented to them.
Simply because the sale is Sub2 will not alter how the second will analyze their exposure to risk, estimate their probable net recovery... and make their decision.
The mortgagee will tell you what's needed for them to consider a short sale.
Follow their rules of submission, but be sure to make your case.
[addsig]