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To: mishedlo who wrote (106553)	1/15/2010 5:13:40 PM
From: rich evans	Respond to of 116555

The second lien holder can request a payment for his release of the second lien. This comes from the seller not the buyer. It is not a kickback or fee for a referral but a payment on a debt. Once the transaction closed , the second lien is gone but the debt/note remains. Same with a foreclosure of the 1st. The second lien is gone but not the debt. The foreclosed party still owes on the note. To do a short sale right you need to get the second position to release on the note and share in the proceeds from the buyer. This requires cooperation and negotiation with the first mortgage holder who gives up some of the proceeds to avoid the cost and delays with a foreclosure. Rich