2nd lien is messing up the deal.

[Allen Wu]

Dear All, I need some advice on this deal. 1st is with WF and they approved the short sale already. The problem is with 2nd, Chase.

Chase needs 10% (which is about $15K) of the original loan amount PLUS a promissory note from home owner. WF is only willing to pay $5K, which leave a difference of $10K. The home owner doesn't have this money to come up.

I am working on this short sale as a realtor, so there isn't much profit in it other than the commission.

Can anyone please give me some advice what to do?