Search Site
Second Mortgage Standoffs Stand In Way Of Short Sales

Short sales can be difficult enough getting one lender to accept the payoff of less than the amount owed. Add a second mortgage to the mix and the task of obtaining the approval becomes more difficult. Most second mortgage holders should be willing to accept a token payment since they would receive nothing anyway if the property went to foreclosure. Many however are trying to hold out for more money and playing a game of chicken with the first mortgage holder. Unfortunately, the end result is that the sale gets held up and sometimes is lost due to this standoff.

Click below for entire article from the Wall Street Journal.


Share this:

Like this:



Leave a Reply

Your email address will not be published. Required fields are marked *

Client Reviews
  • "My name is Emilio. When I was buying my property, I hired Mr William J Reinhardt Jr as my Real Estate Attorney, it was one of the best decision I ever made because he did everything in his power to make sure my purchase was successful. For example, The utilities bills left over by the person who owned the property before me. I said thank you to Bill for not allow me to pay these costly bills." - 5.0 stars | Posted by Emilio Bien Aime | October 1, 2019

  • "Mr. William Reinhardt Jr. is my lawyer for many years. My family and I bought and sold properties with his help and were very satisfied. I recommend Mr. Reinhardt to anyone. I give him a 5-star review." - 5.0 stars | Posted by Diana | September 19, 2019

  • "My husband and I loved working with William. He was very professional, efficient and went above and beyond to help us. We would HIGHLY recommend." - 5.0 stars | Posted by Leeann | September 13, 2019

Contact us

Quick Contact Form