Posted by phil fernandez on January 29, 2001 at 17:43:45:
2nd’s are tough to sell and when they do sell you are talking big discounts. Also if the LTV of the combined 1st and 2nd exceeds 80% forget it. It’s not really salable.
Why not just keep it and enjoy the cashflow from the 2nd rather than taking a big haircut if you can sell it at all.