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Updated over 1 year ago on . Most recent reply

Sean Dougherty's profile image
Sean Dougherty's profile image
Sean Dougherty
  • from hilo, hi
  • Member since Nov 8, 2013
Connect

User Stats

94
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6
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Sean Dougherty's profile image
Sean Dougherty's profile image
Sean Dougherty
  • from hilo, hi
  • Member since Nov 8, 2013
Connect
Sean Dougherty
  • hilo, hi
6
Votes |
94
Posts
Buying & Selling Real Estate

2 lenders foreclosing same time.

Sean Dougherty
  • hilo, hi
Posted

Seller has 2 mortgages foreclosing.

Senior lien has been in foreclosure since 2012.

Both liens are around $350k each.

CMV $950k

Seller has financial difficulty and seems to think we can negotiate for a partial settlement from junior lien holder.

Can either payoff amount be negotiated considering there is equity in the property?

If so, which is better to start negotiations with?

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