Short Sales – Make sure whoever is negotiating the short sale for the primary lender is also negotiating for all outstanding Deeds of Trust. If the Seller has both a first and second lien, a short sale package should go to both lenders. Even if the same lender has both the first and second loans, do not take for granted that the negotiator for the short sale of the first deed of trust will also be approving the short sale for the second.Verify in writing that the short sale negotiator is handling both loans. Please contact me if you have any questions.
William D. Tucker, III
Tucker Griffin Barnes P.C.