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house not able to sell short sale due to lenders not helping...

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panther1 Joined: 08 Feb 2009 Posts: 2 1.59 Dollars($)	Posted: Sun Feb 08, 2009 1:23 pm    Post subject: house not able to sell short sale due to lenders not helping Like 0 Dislike 0 california,tried to sell 4 over a year short sale 80/20 loan..the junior loan will not co-operate i have already lost six offers..because junior loan wants me to sign a paper saying i will pay them back the 102k i owe. senior loan is a conventional loan unsecured and the junior loan is money purchase. i tried for over a year but i get no help from lenders. advise? can they take a way my second house/my residence?
Guest	Posted: Sun Feb 08, 2009 3:52 pm    Post subject: Like 0 Dislike 0 Who are your two lenders? I believe that if both your loans are nonrecourse purchase money loans, they can only take the current property if you are forced to foreclose. I'd want someone else on this forum to verify what I'm saying though.
panther1 Joined: 08 Feb 2009 Posts: 2 1.59 Dollars($)	Posted: Mon Feb 09, 2009 9:54 pm    Post subject: Like 0 Dislike 0 it is central mortgage and washington mutal... Washinton mutual has agreed on a short sale for 6,000 dollars but still want me to make arrangements to pay the balance of 102,000.00 or else there is no sale!!! its been over a year...

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