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Old 06-29-2011, 01:36 PM
 
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Quote:
Originally Posted by stevej64 View Post
Elke is right a lender 2nd mortage is likey holding a smaller mortage they will demand full payment.This will cause the 1st mortage holder to pay up or take a bigger toss than the 2nd mortage holder
The flip side of this coin is that if the house is actually foreclosed upon and goes to auction, the second mortgage holder could get nothing. They are therefor often willing to be bought out cheap.
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Old 06-29-2011, 01:41 PM
 
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Tom
The flip side is the first holder of mortage has more to lose .
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Old 06-29-2011, 03:11 PM
 
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It's all a negotiation. Each party looking out for there own best interest. You never can predict how it's going to end.
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Old 06-29-2011, 03:35 PM
 
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TOM
Question is short sale lets say you hold a 200k first I hold a 25k second .We get a offer for 200k I want my 25k would you rather get 175k or nothing?
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