Hi there, Shawn Polston here with TucsonShortSale.com in Tucson. I wanted to talk to you today about short sales with multiple liens on the property. A lot of people have multiple liens against their property whether it’s two mortgages, a mortgage and a HELOC, a mortgage and a judgment, a mortgage and an IRS lien, etc. One of the saddest things I see is they will talk to a real estate agent that doesn’t know anything about short sales and they tell the homeowner that they can’t do a short sale with multiple liens on the property. What the real estate agent should be telling the homeowner isn’t, "You can’t do a short sale" they should be saying "I don’t know how to do that" and then get you to someone that knows how to do that. We handle these situations all the time and have very easy processes to deal with most every type of situation. Some situations can get a little difficult as far as how they’re going to turn out, however we have written processes for how to handle these as well.
We actually have a short sale closing soon where there was a Wells Fargo first mortgage, Green Tree second mortgage, a different Green Tree department for the third mortgage and the house was worth less than what the first mortgage was owed, so it was a short sale for all three mortgages. Not only were we able to negotiate the short sale with Wells Fargo, we were also able to successfully negotiate on both Green Tree mortgages and get full releases from all three of the mortgages.
Again, here’s the thing, there are people out there right now that are getting bad advice from a real estate agent about doing a short sale with multiple liens. Make sure you pick up the phone and give us a call because we can direct you on how to best handle these problems. We want to go over your situation with you and make sure you are aware of all of your options, so please give us a call or fill out the short sale information request form on our website. Thanks again for coming to TucsonShortSale.com