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Can I do a short sale if I have multiple mortgages
Second and third lien holders, whether they are equity loans, second . This simple fact may make the lenders more receptive to reduced payoffs . In many cases, the bid from the first mortgage company or primary lien holder is the highest or .
http://www.realestatesnextlevel.com/Short_Sale_Multiple_Mortgages.htm

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Second Mortgages - How To Information | eHow.com
A second mortgage holder is entitled to foreclose in North Carolina, but it may not be practical to do so. The first, or . How to Negotiate a Lower Second Mortgage Payoff . In a real estate absolute auction, the highest bidder wins the property.
http://www.ehow.com/second-mortgages/

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How Does the Second Mortgage Get Paid After a Short Sale ...
Many short sales leave little or no money for the second lien holder. . The maximum the short sale could generate is $200000. . A short sale in real estate is when the bank that owns the mortgage on the home accepts a payoff of that.
http://www.ehow.com/info_8011127_second-paid-after-short-sale.html

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Working Short Sales With A Second Mortgage
When the first mortgage does not receive their full payoff, the second . This is why most second and third mortgages, as well as lien holders, will accept 10 .
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    Lenders Choosing to Foreclose Instead of Short Sale Approval
    Feb 7, 2011 . Published by Bill Gassett RE/MAX Executive Realty . There is a 1st mortgage on the property for $310000 and a 2nd mortgage for $50000. . During the negotiation process the 2nd lien holder is offered $5000 in order to approve the short sale and . They will not accept the short sale payoff of $5000.
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    http://originationpro.wordpress.com/2012/03/14/administration-releases-service-member-and-refinance-changes/

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Short Sale Reforms Could Speed Recovery - RE/MAX
Dec 1, 2009 . RE/MAX Chairman Lauds Government Action. (Denver, CO . Limits Proceeds to Second Lien Holders Second mortgage holders can only receive up to. $3000 of the . can collect up to $1000 for allowing such payoffs.
http://www.remax.com/documents/insider/pr/2009/Short%20Sale%20Reforms%20Could%20Speed%20Recovery_12-1-09.pdf