2nd Mortgage Advice

[RoxyG]

I live in the south bay and currently owe more on my mortgage than the home is valued at. We are considering a short sale. Is it best to try to negotiate with the 2nd lender before or during the short sale process? Any advice is appreciated.

[urbanrealtor]

In my experience it is best to leave it to the short sale agent or negotiator (whichever one negotiates on your behalf).

I have seen a lot of my clients try to work something out with the bank by offering to pay some fee at closing or to carry an unsecured loan after sale.

If you do a short sale, the first lien holder will approve some paltry pay out to the second.

Typically, the second will have guidelines for what they will accept.

Its not like every short sale negotiator or agent is great (some are quite lousy) but it has been my experience that the bank negotiators prey upon the inexperience of homeowners to get promises and concessions from them.

My 2 bits.

[urbanrealtor]

In my experience it is best to leave it to the short sale agent or negotiator (whichever one negotiates on your behalf).

I have seen a lot of my clients try to work something out with the bank by offering to pay some fee at closing or to carry an unsecured loan after sale.

If you do a short sale, the first lien holder will approve some paltry pay out to the second.

Typically, the second will have guidelines for what they will accept.

Its not like every short sale negotiator or agent is great (some are quite lousy) but it has been my experience that the bank negotiators prey upon the inexperience of homeowners to get promises and concessions from them.

My 2 bits.

[urbanrealtor]

In my experience it is best to leave it to the short sale agent or negotiator (whichever one negotiates on your behalf).

I have seen a lot of my clients try to work something out with the bank by offering to pay some fee at closing or to carry an unsecured loan after sale.

If you do a short sale, the first lien holder will approve some paltry pay out to the second.

Typically, the second will have guidelines for what they will accept.

Its not like every short sale negotiator or agent is great (some are quite lousy) but it has been my experience that the bank negotiators prey upon the inexperience of homeowners to get promises and concessions from them.

My 2 bits.

[urbanrealtor]

In my experience it is best to leave it to the short sale agent or negotiator (whichever one negotiates on your behalf).

I have seen a lot of my clients try to work something out with the bank by offering to pay some fee at closing or to carry an unsecured loan after sale.

If you do a short sale, the first lien holder will approve some paltry pay out to the second.

Typically, the second will have guidelines for what they will accept.

Its not like every short sale negotiator or agent is great (some are quite lousy) but it has been my experience that the bank negotiators prey upon the inexperience of homeowners to get promises and concessions from them.

My 2 bits.

[urbanrealtor]

In my experience it is best to leave it to the short sale agent or negotiator (whichever one negotiates on your behalf).

I have seen a lot of my clients try to work something out with the bank by offering to pay some fee at closing or to carry an unsecured loan after sale.

If you do a short sale, the first lien holder will approve some paltry pay out to the second.

Typically, the second will have guidelines for what they will accept.

Its not like every short sale negotiator or agent is great (some are quite lousy) but it has been my experience that the bank negotiators prey upon the inexperience of homeowners to get promises and concessions from them.

My 2 bits.

[sdrealtor]

Good advice. I avoid having my clients speak with the lenders if at all possible. If the lender requires that they speak to the seller it is typically to see how much they can get out of them. i always coach my clients extensively before that happens so they keep their money in their pockets. The lenders will lie and break laws to get more money out of a borrower.

[sdrealtor]

Good advice. I avoid having my clients speak with the lenders if at all possible. If the lender requires that they speak to the seller it is typically to see how much they can get out of them. i always coach my clients extensively before that happens so they keep their money in their pockets. The lenders will lie and break laws to get more money out of a borrower.

[sdrealtor]

Good advice. I avoid having my clients speak with the lenders if at all possible. If the lender requires that they speak to the seller it is typically to see how much they can get out of them. i always coach my clients extensively before that happens so they keep their money in their pockets. The lenders will lie and break laws to get more money out of a borrower.

[sdrealtor]

Good advice. I avoid having my clients speak with the lenders if at all possible. If the lender requires that they speak to the seller it is typically to see how much they can get out of them. i always coach my clients extensively before that happens so they keep their money in their pockets. The lenders will lie and break laws to get more money out of a borrower.

[sdrealtor]

Good advice. I avoid having my clients speak with the lenders if at all possible. If the lender requires that they speak to the seller it is typically to see how much they can get out of them. i always coach my clients extensively before that happens so they keep their money in their pockets. The lenders will lie and break laws to get more money out of a borrower.

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