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Foreclosures
HomeForumsForeclosuresShort Sale: What happens to HELOC in secondary position?
Christian Tibok's profile image
Christian Tibok's profile image
Christian Tibok
  • Real Estate Agent
  • from NJ
  • Member since Sep 11, 2018
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Christian Tibok's profile image
Christian Tibok's profile image
Christian Tibok
  • Real Estate Agent
  • from NJ
  • Member since Sep 11, 2018
Connect
Christian Tibok
  • Real Estate Agent
  • NJ
4
Votes |
8
Posts
Foreclosures

Short Sale: What happens to HELOC in secondary position?

Christian Tibok
  • Real Estate Agent
  • NJ
Posted Sep 11 2018, 08:12
During a short sale when the primary lender is owed 361k and secondary HELOC is owed 78k, what happens when the package was submitted to the primary only? How can the secondary position get what is owed to them?
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