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You could have a few options available to you in this situation. However, each situation is unique. It sounds like you need to do a short sale. If the second is with the same lender, you should be fine. If it is with another lender, it gets trickier. It is crucial that you work with an agent w/experience in matters like this. If you click on my picture, you can see my profile. I have been doing short sales for several years and have the training/certifications in short sales/loan mods. Contact me via my profile so we can talk.
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