raptorduck – That’s was my concern as well. The property I’m interested in has a first, second and third. First and third are willing to negotiate. Second is uncooperative.
This is something I don’t understand, and maybe someone can explain. If it goes to the steps at foreclosure and goes back to bank on first, then to MLS as REO, if the first accepts less than what’s owed on it, doesn’t it wipe out the second and third automatically?
Wouldn’t the second want to cooperate on a short sale and get something rather than nothing? Or I think I read somewhere something about the second and insurance or writing down and their position is better if it goes to foreclosure than short sale. Not sure.
OC Scam – are you serious? Can you really do that?
