I have a few deals where we would like to just “short” the second or maybe even negotiate the debt down. Anyone else doing this? I have four properties - the seconds aren’t that much - one is for 15k, 25k 45k and 21k. But the payments are too high. Can we short a second without the first being late or without short saling the second?
Generally speaking a LMR will want to see the first take a hit also. It makes them feel a little better about their big loss.
GooD LucK! :beer