i have 2 loans on my house, both by the same lender, i am trying to do a short sale on it.?

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i have 2 loans on my house, both by the same lender, i am trying to do a short sale on it.?

my question is will they try to collect money on the second if they approve a price that is lower than what i owe.

2006-09-21 18:40:03 · 2 answers · asked by doc 2 in Business & Finance ➔ Renting & Real Estate

2 answers

If you have 2 loans you owe for both...the pay out has to pay all debts on the property before the deal is closed.

2006-09-21 18:42:12 · answer #1 · answered by Diamond in the Rough 6 · 0⤊ 0⤋

Hi Im a Real Estate Agent in Orange County,CA please feel free to give me a call, my toll free numer is 1(866) 825-9618
California Home Realty. Thank You

2006-09-22 05:05:10 · answer #2 · answered by The O.C Real Estate Agent 2 · 0⤊ 0⤋