1st Or 2nd - How Do I Find Out?
I am working on a SS deal.
When I was talking to the the 2nd, the contact person mentioned that they have a 1st position.
And when I was talking to the 1st, they mentioned that they had a 1st position.
How do I verify who is right?
Does the 2nd have any reason to "bluff"?
Any help/advice would be appreciated.
Thanks,
-RP-
2nd cannot have a 1st postition, that is why they are 2nd (meaning 2nd position). What they probably meant was that they are the first one foreclosing, just a guess.
Do a title search. If you don't know how to do one you can have your local title company do it.