Getting the 2nd to clear

[Mark Yuschak]

My wife and I are in the process of trying to buy a new home for us. The house we want is a short sale and the agent has her claws right in the deal and refuses to allow me to negotiate with the lenders....whatever... Until now...

The 1st has been approved. But the 2nd will not approve the deal unless the buyers bring an additional $4,500 to the table. I have a REALLY hard time bring $4,500 to the table to make the deal work since I know what HELOCs are used for - to fund personal BS. Me bringing $4,500 is essentially giving $4,500 to pay for their cars, fancy vacations, etc. It's morally wrong, IMO.

What are some things I can tell the listing agent, which she can relay to the holder of the 2nd, that will help ease this $4,500? My initial suggestion of having the sellers bring $4,500 to the table didn't fly. I even offered to split it and that didn't fly. The sellers can come to the table with nothing. I represent myself as the buyer and agent and I even offered to waive commissions and she says that won't work either.

The listing agent is very difficult to work with on top of all this... :roll:

[Scott Hubbard]

If the 2nd wants $12,500.00 and the 1st position is only allowing $8,000.00, how is the listing agent proposing to put this on the HUD1?

Something is missing here.

Secondly, your looking at this from the wrong angle. Do not think of it as your helping the seller. Focus on the value of the purchase. R U getting a good deal?

With an HELOC, the 2nd will likely file a deficiency judgment against the seller since the HELOC was probably more than $80K. Your $4500.00 is not going to ease anyone's pain.