well I am not a NPN expert by any means but this is an interesting question so this is my best guess's1. the 189k is all the property is worth.. in reality.. so that's why its listed at that price.. and probably in contract for around that number.2. the seller does not realize you own the 2nd and who ever sold you the second probably realized the value was not there and unloaded it to you.. 3. your in the drivers seat in that this deal can't close without you signing off on your payoff.4. this is a short sale .. the first lender will be asked to take a short and will usually only cooperate if you as the second take no more than about 5k for your position.5. if you paid for than a few grand for the 2nd your in jeopardy.6. if you don't cooperate and the 2nd is in default you can foreclose payoff the first and deal with the asset.. 7. if the seller gets frustrated they just walk and squat stop paying on the first it forecloses and you either pay it off or it wipes you out completely .either way.. 2nds for most folks are pretty risky.. unless of course you paid next to nothing for it and its just mad money.. that you can easily lose. and just chalk it up to well that did not work.

So rather than sell off large swaths of houses they can take their sweet arse time unloading/executing on a case-by-case basis.  

Also a truck with a window that opens between the cab and the bed is very useful for long pieces of lumber.   

They are not as easy to sell if you need to unload, average home appreciation over time is typically 4,7%, townhomes 3.4%, and condos are even lower.

@Johnoson Crutchfield Unload the high interest rate card(s)/loans.  25% is ALOT of interest. 

I wasn't going to put anything in there about a cash purchase or quick close because I don't expect these landlords to be in a financial pinch where they need quick cash, more that they'll just be tired of landlording and hopefully ready to unload a damaged property at a discount. 

Even if you are able to cash out on it, you really won't be making any money, especially when you factor in vacancy and repairs.If you are set on this being an investment property and you are sure it is worth $210k, your best bet would be to unload it, take the cash and move on to something else that would be a better rental.

The cost of goods from lumber, to paint, to nails, to singles...all are up.  

Storage locker, lumber yard, restaurants showing they helped these business owners to prosper.

I can haul a load of lumber or mulch and pull my camper.