If you have two loans you should be aware that seconds are holding out for larger amounts than the first is frequently willing to pay.
(there is a reason the average Realtor only closes 25% of their short sales)
It is vital you use your best strategies and have a back up plan.
For instance in California for homeowners with Recourse second loans, we frequently advise they consider a two step short sale… or a short payoff and a short sale.
There are far to many variables to review here… but it is part the UnderwaterRealEstate.com client education portal.
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