Legal Question in Real Estate Law in California
What do we do: we have an approved short sale on our personal residence from the 1st TD holders, the 2nd TD wants more than 20% of the debt owed on the line of credit. The 1st says 3-5K max to the 2nd TD, and the second says 7500., 9K, and now 12K depending on which week it is. Wat do we do?
Asked on 10/07/09, 5:30 pm
1 Answer from Attorneys
Point out to the holder of the second that if the sale falls through and the first forecloses, they get exactly zero. If that doesn't work, I'm not sure what you can do but let the lenders duke it out.
Answered on 10/07/09, 5:42 pm
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