tommyfourth asked:


100% loan, 80% first, 20% second. The home is worth about what the 80% loan is.

Who takes the cut on a short sale? Second lien holder, first? both?

Manuel

showmethemoney asked:


I just did a short sale on my home about 2 months ago. I want to purchase another home because of the deals in the market place. How long do I need to wait and are there any mortgage companies that are willing to work with individuals in my situation? My credit score dropped to 550. I have $15,000 to put down and i’m looking at property in the $100,000-$150,000 range. Any advice would be great.

Lois