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Hot Short Sale Negotiation Tip and Some Short Sale Basics
In college, the elementary level courses are usually the 100 series courses—all of them are numbered in the one hundreds. The advanced courses are in the 200 series. Before you fill your tummy with too much turkey (or tofurky), it seems like now might be a good time to provide a little bit of short sale 101 review.
Here’s some 101 on what to do when you are negotiating a short sale with two separate lien holders. 
If your short sale seller (the borrower) has more than one mortgage lien on the property, then it is the responsibility of the short sale negotiator to negotiate all of the mortgage lien holders that will be settling for less than full payment on the amount owed. 
When you have two mortgage liens at the same bank (like Bank of America or Wells Fargo, for example), you must research whether you need to negotiate the two liens separately or whether one employee at the bank will be handling both loans. If the mortgage liens are being serviced by two different lien holders, then you will need to negotiate with both lien holders separate and simultaneously.
That’s not always so easy.
First lien holders will ... more

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