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    2ndMtgHoldup's Avatar
    2ndMtgHoldup Posts: 3, Reputation: 1
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    #1

    Jul 27, 2009, 07:05 AM
    2nd Mortgage Refused to work with me
    I am currently under contract to short sell a property. The second mortgage holder is holding up the process by refusing to submit updated financial data to the decision maker. They took out some sort of insurance policy that pays them in full, but now they want me to sign a note for a portion of the debt, which I cannot afford. My negotiator has outright refused to resubmit my file. I feel that she is likely in noncompliance of some foreclosure law. Can anyone help? I don't want them to force me to lose the sale due to their refusal to resubmit. I am located in Florida.
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
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    #2

    Jul 27, 2009, 09:02 AM

    The "negotiator" represents you? What reason has she given for refusing to resubmit?
    2ndMtgHoldup's Avatar
    2ndMtgHoldup Posts: 3, Reputation: 1
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    #3

    Aug 6, 2009, 06:33 AM

    Negotiator claims that they will be paid off with insurance policy that mortgagee holds. Won't release any info on insurance to me. She and her supervisor REFUSE to work with me, want me to sign note and still be liable for original loan.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #4

    Aug 6, 2009, 07:30 AM
    Quote Originally Posted by 2ndMtgHoldup View Post
    Negotiator claims that they will be paid off with insurance policy that mortgagee holds. Won't release any info on insurance to me. she and her supervisor REFUSE to work with me, want me to sign note and still be liable for original loan.
    Hello 2:

    I'd fire 'em and hire a new set. They DO work for you, right??

    excon
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