Posted on: 23rd Sep, 2010 07:44 am
we are in the process of selling our home. we have a first mortgage and a second. we want to pay off the first and and offer the second a short sale or a settlement offer. we need to know in regards to the second mortgage, which is most effecient. offerning a short sale or a settlement offer.
Hi vonnbeefine,
If you want to sell off your home, then you should go for a short sale. You should contact your second lender and request him to short sale your property. However, after the short sale, you'll be liable for paying the balance dues resulting from the sale of the property, to the lender.
Thanks,
Jerry
If you want to sell off your home, then you should go for a short sale. You should contact your second lender and request him to short sale your property. However, after the short sale, you'll be liable for paying the balance dues resulting from the sale of the property, to the lender.
Thanks,
Jerry