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short sale -clear itle

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villagerealty1 Joined: 07 Nov 2009 Posts: 1 1.29 Dollars($)	Posted: Sat Nov 07, 2009 4:55 pm    Post subject: short sale -clear itle 1st mortgagee approved short sale and offered 2nd mortgagee an amount . 2nd needed to accept but instead charged off and referred it to a 3rd party(CA) CA wanted more to settle than the 1st will allow. Escrow is halted because clear title cannot be passed to the prospective buyer. Property is due to go to foreclosure in a few days. How can this be avoided?
jheard Moderator Joined: 12 Dec 2007 Posts: 599 Location: Houston, TX 98.69 Dollars($)	Posted: Sun Nov 08, 2009 11:12 am    Post subject: If the 2nd won't settle you can take subject to the second, or purchase at foreclosure when the 2nd drops off title. _________________ Disclaimer: This is not legal advice and I am not your lawyer. The information provided in this forum is for discussion purposes only, and is no substitute for an in-person consultation with an attorney who can analyze all of the facts and determine how your state and local laws may apply to your specific situation.

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