Back to Results
Please enter a valid email address.
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.
Please enter text in the "Enter the text to display" field.
Please enter text in the "Enter URL" field.
Please enter a valid URL.
Please insert a video embed only
Here is nnother option for those who don't have the cash to buy out their second mortgage. You may suggest a deal to your second mortgage holder wherein, you would ask them to release the second mortgage in order to allow the short sale to go through and in return, you will sign a note for a percentage of that loan. Such a note is a personal loan, an unsecured loan, and would be dischargeable in bankruptcy. But if you can manage the payments, a good outcome is assured rather than tarnishing your credit report.
These options are worth considering if you want to do a short sale and avoid foreclosure with two mortgages to deal.
I say first talk to the second lien holder first and get a feel for what amount they would need to release the lien. Every transaction is different . Best of luck
Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.
For Sale: $1,149,000
For Sale: $498,000
For Sale: $410,000