does 2nd mort have to be paid if house is short saled

Posted on: Sat, 08/27/2011 - 00:22

ratrace2fasttrack

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does 2nd mort have to be paid if house is short saled

My parents are upside down on their property. 150K over 77K. They are current on both payments. They want to walk away due to their age and $2000 monthly payments. Can anyone advise what is the best options?
I know I need to have them sign an authorization for me to negotiate with their bank. What will be their responsibility for the 2nd?

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does 2nd mort have to be paid if house is short saled

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