It can be done and lenders can help and are willing to cooperate if you don't give up, know your clients, file and facts. Friday we finalized a short sale with a large first and second (HELOC) mortgage. The lenders released both the notes and liens. This was not a HAFA program short sale. Without going into the hardship the home sold for $445,000 with 3% seller contribution. The first was owed $489,000 and the second the HELOC was $271,000. The first agreed to pay the second $6000 with the stipulation that the lender of that HELOC would not get more than the $6000. That was not sufficient for the HELOC to release the lien let alone the note. Originally the HELOC wanted 40% - 60% of the $271,000. After a difficult negotiation process which included many phone calls and emails we settled on Thursday for the $6000 that the first offered and $20,000 cash from the borrower. To do this I had to sell the first on the idea of allowing the HELOC to have $20,000 from the borrower plus still give the HELOC the $6000 they originally offered. It took patience, skill and, most importantly, persistence, but on Friday the deal came together. I just wanted to share a good story where with everyone's cooperation and by working together we were able to close all the gaps. The moral of the story is what I heard that Winston Churchill once saie which I have quoted many times, "never, never give up". Another happy ending and another one of my teams over 250 successful short sale approvals. And, with the exception of one client who never told me he was served with a sale date, I've never have had a client foreclosed. For more information go to www.AskMeAboutAShortSale.com and click the big red "Foreclosure Alterntive" button. For even more information read "Foreclosure Wars White Paper" found after you open "Foreclosure Alterntive" on the left of my YouTube video. Thank you for taking your valuable time to read my blog.