Short Sales & Sub To
Is it realistic to accomplish a short sale on the 2nd while taking the 1st Sub To, especially that they are each different lenders?
In such a case I am wondering that the 1st since not being asked to take a short, nor in foreclosure would not have to be party to a HUD???
Thanks.
In such a case I am wondering that the 1st since not being asked to take a short, nor in foreclosure would not have to be party to a HUD???
Thanks.
Comments(0)
Never a good idea to omit material information from a HUD1. It is best to ask the second mortgagee if it would permit the transaction you have proposed. The worst it could say is, no.
Lenders attitudes and policies can change overnight.