Posted by bwn on February 13, 2001 at 22:27:57:
It’s not uncommon for a lender to give a reduced “demand letter”, which will serve as their acceptance of the lower amount. Just ask them to submit a demand into escrow for the lower amount. That should take care of it.
Need info quick on Short Sales… - Posted by Pam
Posted by Pam on February 13, 2001 at 19:41:55:
I am selling my personal home and we are a month behind on the first and 2 months on the 2nd. We will get about $25K in equity out of the home and we got an offer tonight. Is there a way to go about getting the mortgage holders to agree to a short sale so we can get more out of the house? The reason I ask is because my 1st holder said we owe $164K and that they would accept $155K. Do I get this in writing? How do I do this exactly? Will they ask to see my contract to see what I am netting?
Thanks!