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i need a subordination but my second is charge off

by seidym_813_716 from Gurnee, Illinois. Sep 28th 2012 Reply


Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions

Your problem is that your second mortgage lender still has the lien on the property. Even though they have taken a tax loss by "writing of" the debt, this action does not negate your obligation to them. You will need to work with them to get it, and will probably have to negotiate terms that you will probably won't like. Then again, they have no obligation to provide you with a subordination agreement, especially since you haven't been paying them. You may need to employ a good Real Estate Attorney with a strong background in loan modifications. Good luck ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com ~ 888-889-9950

Sep 29th 2012
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Thanks for the answers i try to put more inf in the bigining but not apear, ok we aply for a modification finily after long time i was aprove they put me in a trial payment plan after the 3 payment when i call they told me about the subordination when i call bank of america they told me that the loan is pay off soo when i ask for the lien reilese after weeks they told me that the account is charge off instead pay off i ask if they can open the account to negociate because i know if i was aprove for a loan in the first i can aply for the second but they told me that they will wait to see what the subordination dep say if they denied because the loan is charge off then i have to call a person in BA and they will open the acount i ulready send the check list for the subordination list or aplication and i send it to wells fargo that i know that they will send it to the title company and thy will ask for the subordination to wells fargo the thing is that i dont want to lose more time i just pay my 5 payment in the trial yesterday for the month of october please i need advise please help me i dont want that they say no because is charge off when i try to negociate thanks for your advise.

Sep 30th 2012
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