short sale strategy - Posted by rm

Posted by rm on September 16, 2003 at 08:01:45:

What I’m wondering about is logistics.

For example, Ditech holds a second on this particular property. Part of their package is an authorization for them to communicate with the first (Countrywide).

Perhaps this is only to obtain a payoff figure?

Anyway, I’m just trying to figure out how to do this, and juggle the workout with the first while shorting the second. I was figuring that the second would want a copy of the final HUD (not just the preliminary).

If you wouldn’t mind telling me how you handled this, I’d really appreciate it.

short sale strategy - Posted by rm

Posted by rm on September 15, 2003 at 11:29:44:

Has anybody shorted the second mortgage, and then reinstated the first, prior to sheriff’s sale.

I’m just wondering if that could be pulled off.

Thanks.

Re: short sale strategy - Posted by Jerry

Posted by Jerry on September 16, 2003 at 03:27:20:

Yes