QUESTION
Can a second mortgage holder hold up a short sale even though the first mortgage holder has offered funds?
Asked on Oct 15th, 2011 on Foreclosures - Colorado
More details to this question:
Can a second mortgage holder hold up a short sale even though the first mortgage holder has offered funds?
1 ANSWER
Unless the 2nd is being paid in full they can hold up the sale. They do not have to accept less than they are owed, though in most case they would be wise to take what they can get.
Answered on Oct 19th, 2011 at 5:27 PM