I’m currently working a short sale and the 1st said that they do not send ss packages anymore. They want an executed contract, HUD 1 statement and a hardship letter from seller. How do I deal with the 2nd? It’s a different lender and seller owes 49k on the loan. Never dealt with this situation and would appreciate any help.
Offer them $1K with the understanding that that sum is all that the 1st will allow.
Trust me. They have experience with this reality.
If you put more than $1K for the 2nd TD on the HUD1 be prepared to have the deal rejected.