substitution of collateral: Brick Wall On a Fifth Third Short Sale, Need Help! - 07/18/11 08:03 AM
I have not run into such a brick wall in the hundreds of liens I have negotiated.
5th 3rd prefers ZERO dollars over $4,500 in a short sale now. Any suggestions?
I am helping my client with a short sale on an investment property. Sales price is $175,000. The first mortgage, Citi, is taking a short sale and allocating $4,500 towards the second mortgage, which is 5th 3rd.
5th 3rd wants the entire remaining balance of $40,000 to be repaid by the seller. 5th 3rd wants the seller’s current 2nd mortgage on the investment property to be transferred as a third … (2 comments)

 
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Dave Halpern - Louisville Short Sale Expert

Louisville, KY

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Short Sales Professionals of Louisville (502) 664-7827

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