Is a "short-sell" possible when a mortgage is bundled?

Question

Is a "short-sell" possible when a mortgage is bundled?

Answer 1

I think you're referring to having a first and second mortgage?

And yes, it is possible.  The task is more difficult if there won't be enough from the sale to pay anything to the second mortgage.  If that's the case, offering $2000-$5000 direct from the seller may be what it takes to get the deal to go through.  Keep in mind, it's really a case by case basis and the banks criteria for what they are willing to accept seems to be changing constantly.  Your best bet is to hire a Realtor with a proven track record for getting short sales approved.