Utah County Short Sale Q & A: The Second Mortgage Wants More Than The First Mortgage Will Give Them

Utah County UT – The Stop Foreclosure Institute recently received a question from Aggie. Here was Aggie’s Question.

“We received a short sale approval on the 1st. They will only pay the second mortgage $3,000. The problem is that the second mortgage wants $5,500.

We are arguing back and forth with the second mortgage. The negotiator there said management decided they won’t take less.

I told her the final decision should come from the investors not from management. Any help greatly appreciated. Aggie.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here is the answer to Aggie’s Question. It sounds like the first is Fannie Mae or Freddie Mac. They will only pay $3,000 to the second.

To get the 2nd to take less money, you have to escalate the file. Contact the CEO, ask for a supervisor, etc. When you talk to the supervisor remind them they will get zero thru a foreclosure.

Now, you will need more bargaining power than a simple “reminder.” How close is the first to foreclosing? If they are close, just play chicken.

Tell the negotiator that if the first forecloses and they lose everything, then you will be in contact with the CEO to let them know. Another tactic is to tell them the first is Fannie Mae and that is the most they will pay.

If you stay firm, refuse to take less, sell them on why they should approve the short sale on your terms, and threaten to contact the loan owner directly, then they will usually budge. We have gotten lenders to agree to lots of stuff by staying firm and refusing to back down.

But at the same time we stand firm we also go on the offensive. “If you don’t approve this short sale and as a result you lose more money, then we will contact the loan owner, your stockholders, and the press”, we tell them.


This business requires sales skills. Use your sales skills to sell the people at the lenders on approving the short sale. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at brett@findtimetogether.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 801-756-1857

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Utah County loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Brett Bezzant.

Brett is a Real Estate Agent at R and R Realty. Utah County Short Sales Realtor:

Phone: 801-756-1857. brett@findtimetogether.com.

View My homes for sale at .

Brett Bezzant specializes in loan modification assistance and short sales in Utah County Utah. Utah County Loan Modification Help, Utah County Short Sales. Utah County Short Sale Realtor. American Fork UT Loan Modification Help, American Fork UT Short Sales. American Fork UT Short Sale Realtor. Utah County UT Short Sales. Utah County Realtor.

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Important Notice

Brett Bezzant, R and R Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Brett’s personal views and do not reflect the views of R and R Realty.

This information on Utah County Short Sale Q & A: The Second Mortgage Wants More Than The First Mortgage Will Give Them is provided as a courtesy to our viewers to help them make informed decisions.

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