Any body work with Suntrust as 2nd mortgager?

Hi All,
I am working on a 2nd SS while my first is with the lender. :slight_smile: HEre are the facts. in FL Countrywide is the first and owed $106K,
Suntrust is the 2nd(line of credit) owed $ 70k.
total $180k
comps show $120k
Holding Costs - 9k
Repairs - 11k
RE commisions 5% if HO needed listing - 6k
Closing Costs 2% - 2.5k
Profit 10%( my mentor said make sure -12k
this was present to show
bank what we will make)
Net Suntrust if Countrywide approve 1k
Net to Countrywide if they allow $1k to Suntrust $79k

How easy is it to work with Suntrust? I know countrywide may take a small discount. Anybody think they will take $1k( of course that is just the starting offer). I did talk to suntrust directly, the gatekeeper stated that her boss makes the decisions whether or not they will protect their interest.

I sent a mini ss package to them with the offer a week ago. Should I try to contact them or let them stew for a few more weeks? Right Now I am waiting for the HO to complete the Counseling certification next week. THen I can finish putting togehter the SS package to Countrywide and tell them that SUntrust wont deal

Guess nobody worked with suntrust yet!!
???

At least not anybody that’s read your post in the last couple of days and had time to respond…

Not everybody reads every post ervery day…

Keith