Jun
27
Is it possible to short sell a home loan when you have two loans with different company’s?
By
i have a home loan with two company’s and want to short sell but i dont know if its possible with two loans and if i foreclose can the second loan company come after me for any losses
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2 Comments
July 1st, 2010 at 10:15 am
Its possible, but since both lenders have to agree to the sale (and get something from it), its going to be real difficult (heck, its real difficult with one – with 2 it would be downright challenging). The 2nd mortgage can probably come after you for a deficit, but whether or not they will is difficult to say (and in fact the first may also be able to come after you for a deficit as well).
July 3rd, 2010 at 2:15 pm
have you communicated?