Updated almost 16 years ago on . Most recent reply
TD Banknorth Won't Discount 2nd
I am working on a short sale right now that is getting very frustrating. The first lien holder has agreed to a price of $32,000, on a balance due of $90,000.
TD Banknorth holds a $13,000 2nd and will not take anything less than full payoff?? There arguement is that the tax assessed value of the house is $125,000 and they think the first is selling for too little.
We sent over the appraisal the first did on the property that came in at $35,000.... and they still won't budge.
My negotiator said they have worked on many 2nd's with TD Banknorth and they usually settle for $1,000. I don't understand what is up with these guys??
Now the first is pushing is to close over the next week and we can't get anywhere with these fools at TD Bank, don't they realize if the house goes to auction they will get nothing!!!
Any advice or similiar experiences?