Multiple Lien Short Sale

It’s important to pull title at the beginning of a short sale transaction to confirm how many liens are encumbering the property. At times there multiple liens, a first and second mortgage, credit card judgments, tax liens, and other debt owed to creditors. Not all short sales are created equal and multiple lien short sale transactions can be complex. It’s important to know the guidelines of the 1st mtg holder when it comes to guidelines for money allotted to subordinate lien holders as well as the lien holders potential positions to settle. Knowing this information and the numbers on the property can help one put together a strategy to increase the chances of success on the transaction.

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